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

December 20, 2021 5:25:07 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (150.60)
17:19
17:19
Dec. 20, 2021

-65 p
150.60
Stop Loss
149.95
Entry
+60 p
149.35
Target 1
+100 p
148.95
Target 2
Chart & Analyst Comments
main-sell-market-trend-1
  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. The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
  3. We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
  4. Price broke through the MVP line and rushed down. We consider this a sign for further GBPJPY price decrease.
  5. The first target is at the level of the previous bottom - 149.35, and the second one, in case of an active price decrease, is at the level - 148.95
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