USDJPY Intraday Forecast

FX:USDJPY   U.S. Dollar / Japanese Yen
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=108.3.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=107.1.
TP4: S2=106.8.
Set the stoploss of these orders at breakout of R2=108.45.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=108.45.
In this situation, there is an expectation to reach the target R3=109.15.
Set the stoploss of reverse orders at breakout of R1=108.3.

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I think 108.3 should stand as a resistance.
+2 Reply
@fxniki, Thanks for sharing your opinion about this chart.
+2 Reply
keep it up!
+1 Reply
ForecastCity Forecast_Crypto
Hey @ForecastCity you are one of the few I follow on here
+1 Reply
ForecastCity Forecast_Crypto
@Forecast_Crypto, It's really our pleasure knowing that you are following and supporting us. We hope you enjoy the posts.
Great trading idea. However may we suggest that you zoom the chart so we can see everything?

We have the same out look for USDJPY so check our video out and let us know?
@FXCM, Thanks for your comment and sharing your idea.
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