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

June 7, 2019 12:32:01 PM by Patrick Yang
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (136.70)
Start
End
Jun. 7, 2019
Jun. 14, 2019

-155 p
139.40
Stop Loss
137.85
Entry
+195 p
135.90
Target 1
Chart & Analyst Comments
main-sell-market-trend-1
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. The activity of "fresh" buyers in an uptrend may indicate that the market expects the recovery of the bull trend. However, according to our analysis, this movement is corrective and we expect the price to go down.
  3. Upward price movement is accompanied by reversal signals of Profit Ratio indicator.
  4. In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.
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