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Intraday forecastEuro / Japanese Yen technical chart
SymbolEURJPY
Release TimeDecember 17, 2007 - 14:25
Advisebuy (limit) above S1=162.8
Intraday
Short term
Yesterday range
Yesterday high
Yesterday low
Yesterday close
R3164.9
R2164.18
R1163.69
S1162.8
S2162.34
S3161.62
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=162.8.
On the other hand, short term forecast is downtrend, so trading is more risky this day and if you tend to set orders, invest less money and expect to reach the following target:
TP4: R1=163.69.
Set the stoploss of these orders at breakout of S2=162.34.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=162.34.
In this situation, there is an expectation to reach the target S3=161.62.
Set the stoploss of reverse orders at breakout of S1=162.8.

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