GBPJPY - Upward trend will continue, Long trade by market price recommended
March 29, 2021 11:28:45 AM
Forecast Details
PairGBPJPY
Direction
Buy
StatusClosed (151.55)
+115 p
152.70
Target 2
+85 p
152.40
Target 1
151.55
Entry
-70 p
150.85
Stop Loss
About Author
Alexander Zorevyk
Expert
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Total votes: 8
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
- The number of profitable buyers has exceeded 75%. The uptrend is in its active phase. This confirms potential for a Long trade.
- The increase in sellers is observed both in the upward movement and in the retracement movements. Retail traders still believe in the possibility of price decrease.
- The first target is at the level of the previous peak - 152.4, and the second one, in case of an active price increase, is at the level - 152.7
