GBPJPY - Downward trend will continue, Short trade by market price recommended

September 16, 2020 7:18:33 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (135.8)
7:17
7:17
Sep. 16, 2020

-90 p
136.70
Stop Loss
135.80
Entry
+80 p
135.00
Target 1
Chart & Analyst Comments
GBPJPY - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPJPY. As a result, we recommend considering only Short trades at this time.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. When the price rises, a signal is formed (orange labels), which implies a downwards movement.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.