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

August 31, 2021 11:43:18 AM by Alexander Zorevyk
Forecast Details
PairGBPJPY
Direction Buy
StatusClosed (151.85)
11:40
11:40
Aug. 31, 2021

+75 p
152.20
Target 1
151.45
Entry
-75 p
150.70
Stop Loss
Chart & Analyst Comments
GBPJPY - Upward trend will continue, Long trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in short positions on GBPJPY. As a result, we recommend considering only Long trades at this time.
  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 decrease in the buyers volume, together with the increase in the sellers volume, confirms the need to Buy, according to our trading idea.
  4. MVP line is below the price and acts as a support level.
  5. The price increase will be accompanied by the trigger of market crowd’s stop losses, which in turn will serve as a "fuel" for the upward movement.