Bearish Impact of 162.000 Will Lead to More Price Drop on GBPJPY
Login

The Bearish Impact of 162.000 Will Create More Selling Opportunities on GBPJPY

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

GBPJPY Analysis – May 20

The bearish impact of the 162.000 key level will provide more selling opportunities for sell traders. The bulls have conceded defeat by failing to push the tendency of GBPJPY value far above the 162.000 key zone. After the candlestick pulled through this structure, the selling pressure plunged the currency pair value below 162.000. Further displacement will plunge it further to 155.500.


GBPJPY Price Levels

Resistance Levels: 168.580, 162.000
Support Levels: 155.500, 148.880

The Bearish Impact of 162.000 Will Create More Selling Opportunities on GBPJPY GBPJPY Long Term Trend: Bearish

The 155.500 critical zone price rejected the selling impact, thereby limiting the selling impact on GBPJPY. The buyers corrected the price tendency to retest the 162.000 level, and as a result of this, the sell traders set in with a strong bear candlestick which engulfed the buyers. This, therefore, indicates the presence of more selling opportunities for sellers to trade the value of the price downward. When market makers sell short on GBPJPY, there will be a more significant price drop.

GBPJPY was technically seen in the first consolidation phase, following which as a swing in the bullish moment. However, the sellers are now influencing the major order blocks in the price structure. The Bollinger Band Indicator middle level is reacting near the 162.000 major level where the sellers reversed the price back to a bearish moment on the daily chart. Despite the buyers’ intervention, the selling pressure is set to continue.

The Bearish Impact of 162.000 Will Create More Selling Opportunities on GBPJPY GBPJPY Short Term Trend: Bearish

The 4-hour chart displays the price momentum trading bearish due to the sell traders’ effect. The sellers are now deciding to take the value down because of the price retest at the 162.000 key zone. The selling zone signal on the MACD (Moving Average Convergence and Divergence Indicator) shows the price value set to continue declining.

How To Buy Lucky Block 

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News