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

March 29, 2021 11:28:45 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (151.55)
11:27
11:27
Mar. 29, 2021

+115 p
152.70
Target 2
+85 p
152.40
Target 1
151.55
Entry
-70 p
150.85
Stop Loss
Chart & Analyst Comments
main-buy-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect a downward movement. In this case, we recommend to Buy only.
  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 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.
  4. 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
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