GBPJPY - Downward trend will continue, Short trade by market price recommended

September 6, 2019 7:18:29 AM by Patrick Yang
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (133)
Start
End
Sep. 6, 2019
Sep. 13, 2019

-134 p
133.00
Stop Loss
131.65
Entry
+145 p
130.20
Target 1
Chart & Analyst Comments
GBPJPY - Downward trend will continue, Short trade by market price recommended
  1. For a while now, the Current Ratios indicator has been signalling sell opportunities. Today we are using this signal as the basis for our trading forecast.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market is waiting for the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. Price increase is accompanied by reversal signals for Profit Ratio.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous support. This is a good level for placing take profit according to our forecast.