- 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.
- The number of profitable sellers has exceeded 75%. The downtrend is in its active phase. This confirms potential for a Short trade.
- We are seeing an increase in Buy positions by market crowd, who are replenishing an already large number of "locked up" losing Buy positions.
- Price broke through the MVP line and rushed down. We consider this a sign for further GBPJPY price decrease.
- 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
GBPJPY - Downward trend will continue, Short trade by market price recommended
December 20, 2021 5:25:07 PM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (150.60)
-65 p
150.60
Stop Loss
149.95
Entry
+60 p
149.35
Target 1
+100 p
148.95
Target 2
Chart & Analyst Comments
