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

September 27, 2019 12:01:57 PM by Patrick Yang
Forecast Details
PairGBPJPY
Direction Sell
StatusClosed (133.5)
Start
End
Sep. 27, 2019
Oct. 4, 2019

-150 p
135.00
Stop Loss
133.50
Entry
+150 p
132.00
Target 1
Chart & Analyst Comments
GBPJPY - Downward trend will continue, Short trade by market price recommended
  1. According to the most brokers’ data, more than half of the traders are currently in long positions on GBPJPY. As a result, we recommend considering only Short trades at this time.
  2. We see a sharp increase in buy orders as indicated by a number of brokers, which may indicate an interest of a big market player. We are expecting a downward movement.
  3. The decrease in the sellers volume, together with the increase in the buyers volume, confirms the need to Sell according to our trading idea.
  4. The price decrease will be accompanied by the trigger of market crowds’ stop losses, which in turn will serve as a "fuel" for the downward movement.