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Dear Subscribers,
We would like to inform you that, the UK's Conservative Party leadership election on 23.07.2019, will be significantly important and may trigger abnormal market conditions, including but not limited to:
  • Extreme market volatility
  • Thin market liquidity
  • Abnormal spreads
  • Price gaps
  • Slippage on executed orders
Please note that there is strong possibility of increased volatility on the day of the announcement which is very likely to affect GBP instruments.
We strongly recommend that you take the above risks into consideration when planning your trading strategy, and ensure that you have sufficient funds in your account to cover your open positions.
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Intraday forecastUS Dollar vs. Japanese Yen technical chart
SymbolUSDJPY
Release TimeThu, 05/16/2019 - 22:03
Advisebuy (limit) above S1=109.7
Intraday
Short term
Yesterday range63
Yesterday high109.96
Yesterday low109.33
Yesterday close109.84
R3110.55
R2110.3
R1110.05
S1109.7
S2109.6
S3109.05
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=109.7.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=110.05.
TP4: R2=110.3.
Set the stoploss of these orders at breakout of S2=109.6.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=109.6.
In this situation, there is an expectation to reach the target S3=109.05.
Set the stoploss of reverse orders at breakout of S1=109.7.

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