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Weekly forecast Australian Dollar / Japanese Yen technical chart

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Trade Setup

Total Profit: -882 pip
Closed trade(s): 0 pip Profit
Open trade(s): -882 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 83.47 (day close price) based on 'Shooting star Peak' at 2021.04.20 signaled by DTO:

Open Profit:
Profit for one trade is 83.47(open price) - 84.45(current price) = -98 pip
9 trade(s) still open, therefore total profit for open trade(s) is -98 x 9 = -882 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.

DateJune 12, 2021 - 12:24
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 85.45, beginning of downtrend is expected.
  • We make sure when the support at 80.45 breaks.
  • If the resistance at 85.45 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 84.935 on 2021-02-25 and the peak at 85.79 on 2021-05-10, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 85.20 on 06/02/2021, so more losses to support(s) 84.00, 82.75, 81.85 and minimum to Major Support (80.45) 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 48.

Take Profits:

  1. 82.75
  2. 81.85
  3. 80.90
  4. 79.60
  5. 78.45
  6. 76.85
  7. 75.50
  8. 73.10
Click on the level to view price action history.