EURJPY Intraday Forecast

Euro Fx/Japanese Yen FX:EURJPY

ForecastCity

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=118.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=118.7.
TP4: R2=119.15.
Set the stoploss of these orders at breakout of S2=117.8.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=117.8.
In this situation, there is an expectation to reach the target S3=116.95.
Set the stoploss of reverse orders at breakout of S1=118.

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