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

April 27, 2020 5:55:24 AM by Alex Zarevich
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (132.90)
5:53
5:53
Apr. 27, 2020

+100 p
134.35
Target 2
+65 p
134.00
Target 1
133.35
Entry
-75 p
132.60
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1

For today's forecast, we recommend a Buy Order at this recommended market price - 133.35. This idea is based on the following analysis:

  1. For a while now, the Current Ratio indicator provides an opportunity for Long trade. We are using this signal as a basis for today’s trading forecast.
  2. Stop loss should be taken out of the sellers cluster. If the price passes it, it will likely go on.
  3. The first target is at the level of the previous peak - 134, and the second one, in case of an active price increase, is at the level - 134.35
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