GBPJPY - Downward trend will continue, Short trade by market price recommended
June 25, 2019 4:06:34 PM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (136.65)
-65 p
136.65
Stop Loss
136.00
Entry
+59 p
135.40
Target 1
+109 p
134.90
Target 2
About Author
Alexander Zorevyk
Expert
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Total votes: 3
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Chart & Analyst Comments
- According to the present ratio of positions indicator, the market crowd believes in an upward movement. As a result, we should consider selling only.
- The activity of "fresh" buyers in a downward movement may indicate that the market crowd still does not believe in a bearish trend.
- 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.