GBPJPY Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.2.
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=146.95.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=146.95.
In this situation, there is an expectation to reach the target S3=145.85.
Set the stoploss of reverse orders at breakout of S1=147.2.
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