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

July 28, 2021 8:26:27 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (153.25)
8:25
8:25
Jul. 28, 2021

+110 p
153.55
Target 2
+80 p
153.25
Target 1
152.45
Entry
-80 p
151.65
Stop Loss
Chart & Analyst Comments
GBPJPY - Upward trend will continue, Long trade by market price recommended
  1. The Current Ratio indicator, which is used for quick market sentiment analysis, provides Buy signal at the moment.
  2. The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
  3. The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
  4. The idea of ​​this Buy forecast is based on a long-term upntrend, which is confirmed by the MVP indicator dynamics.
  5. The first target is at the level of the previous peak - 153.25, and the second one, in case of an active price increase, is at the level - 153.55