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Intraday forecastUS Dollar vs. Japanese Yen technical chart
SymbolUSDJPY
Release TimeThu, 01/11/2018 - 19:54
Advisesell (limit) below R1=111.55
Intraday
Short term
Yesterday range151
Yesterday high112.78
Yesterday low111.27
Yesterday close111.43
R3112.6
R2111.85
R1111.55
S1111
S2110.8
S3110.1
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=111.55.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=111.
TP4: S2=110.8.
Set the stoploss of these orders at breakout of R2=111.85.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=111.85.
In this situation, there is an expectation to reach the target R3=112.6.
Set the stoploss of reverse orders at breakout of R1=111.55.

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