GBPJPY - Upward trend will continue, Long trade by market price recommended
February 14, 2020 11:04:28 AM
Forecast Details
PairGBPJPY
Direction
Buy
StatusClosed (144.1)
+109 p
144.10
Target 1
143.00
Entry
-109 p
141.90
Stop Loss
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- 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.
- The Ratios indicator shows the change in the ratio of market players towards sellers. Their increase while the uptrend may indicate the activity of averaging traders. This can serve as "fuel" for further uptrend.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- MVP line is below the price and acts as a support level.
- These accumulation of retail traders stop losses coincide with the level of the previous high. This level will serve as the target for our trade.