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

Patrick Yang on FXSSI Patrick Yang Expert
main-sell-market-trend-1
Forecast Details
PairGBPJPY
Publication Time8/26/19 7:15 PM
Direction Sell
Status Closed (128.65)
Aug. 26, 2019
Sep. 2, 2019
Forecast
-110 p
130.80
Stop Loss
129.70
Entry
+105 p
128.65
Target 1
+160 p
128.10
Target 2
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Chart & Analyst Comments

main-sell-market-trend-1
  1. Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Sell Order.
  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. MVP line is above the price and acts as a resistance level.
  4. Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.
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