ForecastCity

GBPJPY Intraday Forecast

Long
FX:GBPJPY   British Pound / Japanese Yen
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=146.8.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=148.
TP4: R2=148.4.
Set the stoploss of these orders at breakout of S2=146.2.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=146.2.
In this situation, there is an expectation to reach the target S3=144.75.
Set the stoploss of reverse orders at breakout of S1=146.8.

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Comments

Thanks for the good TA.
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@fxniki, we are so happy to have such a supportive followers. thanks for your kind words.
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Great idea, I have the same bullish view on GBPJPY, let me know how you think
Reply
@FXCM-EDU, Thanks for sharing your idea. The ideas almost look like each other. the difference is that I think of the higher level for a retracement.
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