GBPJPY - Downward trend will continue, Short trade by market price recommended
August 26, 2019 7:15:57 PM
Forecast Details
PairGBPJPY
Direction
Sell
StatusClosed (128.65)
-110 p
130.80
Stop Loss
129.70
Entry
+104 p
128.65
Target 1
+159 p
128.10
Target 2
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- Analyzing the market sentiment with Current Ratio indicator, we see a formed signal that confirms our idea of Sell Order.
- 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.
- MVP line is above the price and acts as a resistance level.
- Visually assessing the ratio of buyers and sellers, we see that retail buyers dominate on the market. This fact favors the Short Orders.