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

June 25, 2019 4:06:34 PM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (136.65)
16:05
16:05
Jun. 25, 2019

-65 p
136.65
Stop Loss
136.00
Entry
+59 p
135.40
Target 1
+109 p
134.90
Target 2
Chart & Analyst Comments
GBPJPY - Downward trend will continue, Short trade by market price recommended
  1. According to the present ratio of positions indicator, the market crowd believes in an upward movement. As a result, we should consider selling only.
  2. The activity of "fresh" buyers in a downward movement may indicate that the market crowd still does not believe in a bearish trend.
  3. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous support. This is a good level for placing take profit according to our forecast.