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Intraday forecastBritish Pound / Japanese Yen technical chart
SymbolGBPJPY
Release TimeJanuary 14, 2008 - 23:24
Advisesell (limit) below R1=212
Intraday
Short term
Yesterday range
Yesterday high
Yesterday low
Yesterday close
R3214.4
R2212.81
R1212
S1210.31
S2209.57
S30
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=212.
As short term forecast is downtrend too, so there is an expectation to reach the following targets:
TP1: S1=210.31.
TP2: S2=209.57.
TP3: S3=0.
TP4:
To follow the trend, set an order without takeprofit (free trade) and while short term forecast remains unchanged, keep it open.
Set the stoploss of these orders at breakout of R2=212.81.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=212.81.
In this situation, there is an expectation to reach the target R3=214.4.
Set the stoploss of reverse orders at breakout of R1=212.

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