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Intraday forecastBritish Pound / Japanese Yen technical chart
SymbolGBPJPY
Release TimeMayıs 3, 2021 - 21:29
Advisebuy (limit) above S1=151.2
Intraday
Short term
Yesterday range102
Yesterday high151.93
Yesterday low150.91
Yesterday close151.69
R3153
R2152.4
R1152.1
S1151.2
S2150.85
S3149.7
Trade setup

As we forecast Yükseliş trend for this day, so Forecast City suggests buy (limit) above S1=151.2.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=152.1.
TP4: R2=152.4.
Set the stoploss of these orders at breakout of S2=150.85.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=150.85.
In this situation, there is an expectation to reach the target S3=149.7.
Set the stoploss of reverse orders at breakout of S1=151.2.

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