GBPJPY Outlook for Next Week

Hello traders, hope you're doing good. Here we share our technical analysis considered to fundamentals and future price actions. We believe that this trade setup will help you to gather some required info for your trading. And we highly recommend don't follow the trade setup unless it means the confirmations as described or without our call. If you want to subscribe our premium signals service join our free telegram @profitliotrading. We're really doing well so far with an average monthly target of 3k+ Profitable Pips.

I do believe that price can make a push upwards we have 5th impulse completed on the distribution zone. So I expect price can get back to 50% Fib on the last bearish trend. 139.385 is major support formed throughout the chart for some time since 16th October. Check below for some essentials. Join my team to get accurate entries to earn better results. Good Luck!

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GBP/JPY: Retail trader data shows 51.27% of traders are net-long with the ratio of traders long to short at 1.05 to 1. The number of traders net-long is 6.21% higher than yesterday and 9.04% lower from last week, while the number of traders net-short is 4.69% lower than yesterday and 7.93% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/JPY prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed GBP/JPY trading bias.

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