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

February 22, 2022 2:29:38 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (156.70)
14:27
14:27
Feb. 22, 2022

+105 p
157.00
Target 2
+75 p
156.70
Target 1
155.95
Entry
-75 p
155.20
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Buy signal at the moment.
  2. When the price decreases, a signal is formed (orange labels), which implies an upward movement.
  3. The last downward movement was characterized by a “surge” in retail sellers. This is a good reason to start thinking about long positions.
  4. MVP line is below the price and acts as a support level.
  5. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.
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