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=103.15.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=101.55.
TP4: S2=101.
Set the stoploss of these orders at breakout of R2=103.45.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=103.45.
In this situation, there is an expectation to reach the target R3=104.45.
Set the stoploss of reverse orders at breakout of R1=103.15.

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