- 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
Chart & Analyst Comments
