GBPJPY - Upward trend will continue, Long trade by market price recommended

February 20, 2020 8:21:34 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (144.55)
20:06
20:06
Feb. 20, 2020

+65 p
144.95
Target 1
144.30
Entry
-65 p
143.65
Stop Loss
Chart & Analyst Comments
GBPJPY - Upward trend will continue, Long trade by market price recommended
  1. Since the CurrentRatio sentiment indicator informs us that the market crowd is selling, we should consider sticking to Buy Orders.
  2. The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
  3. The decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  4. Here is the crucial stop loss level to serve as a goal for our Buy trade idea.
  5. MVP line is below the price and acts as a support level.