ForecastCity_EU

USDJPY Intraday Forecast

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=107.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=105.7.
TP4: S2=105.1.
Set the stoploss of these orders at breakout of R2=107.5.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=107.5.
In this situation, there is an expectation to reach the target R3=109.1.
Set the stoploss of reverse orders at breakout of R1=107.

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