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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

Download MT4 template file

Trade Setup
#AUDJPY
Total Profit: 777 pip
Closed trade(s): 162 pip Profit
Open trade(s): 615 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 75.91 (day close price) based on 'Shooting star Two-day reversal candle' at 2020.10.12 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 75.50 touched at 2020.10.13 with 41 pip Profit.
TP2 @ 74.70 touched at 2020.10.15 with 121 pip Profit.
41 + 121 = 162 pip

Open Profit:
Profit for one trade is 75.91(open price) - 74.68(current price) = 123 pip
5 trade(s) still open, therefore total profit for open trade(s) is 123 x 5 = 615 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateOctober 24, 2020 - 21:19
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 78.45, beginning of downtrend is expected.
  • We make sure when the support at 73.40 breaks.
  • If the resistance at 78.45 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 76.50 on 10/12/2020, so more losses minimum to Major Support (73.40) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 43.

Take Profits:

  1. 75.50
  2. 74.70
  3. 73.40
  4. 72.40
  5. 71.10
  6. 69.95
Click on the level to view price action history.