ForecastCity
Long

GBPJPY Intraday Forecast

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 this forecast. usually I don't go for short , but looking at your good results just made me regret that.
Reply
@fxniki, You're welcome.
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Great analysis, i myself have a eye on this pair and have my money on it selling and dropping down however if the UK start the beef trade war I should be expecting a sell to as low as 144
Reply
ForecastCity rwashmwai
@rwashmwai, Thanks. As we mentioned, if trend gets reversed, there is an expectation to reach the target S3=144.75.
Reply
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