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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
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. 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
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