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

August 26, 2019 7:15:57 PM by Patrick Yang
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (128.65)
Start
End
Aug. 26, 2019
Sep. 2, 2019

-110 p
130.80
Stop Loss
129.70
Entry
+104 p
128.65
Target 1
+159 p
128.10
Target 2
Chart & Analyst Comments
GBPJPY - Downward trend will continue, Short trade by market price recommended
  1. Analyzing the ratio of the trader positions, we see a formed signal that confirms our sell 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. 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 swings trades in favor of sell orders.