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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

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Trade Setup

#AUDJPY
Total Profit: 2486 pip
Closed trade(s): 560 pip Profit
Open trade(s): 1926 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 83.70 (day close price) based on 'Peak' at 2021.06.28 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 82.75 touched at 2021.07.06 with 95 pip Profit.
TP2 @ 81.85 touched at 2021.07.08 with 185 pip Profit.
TP3 @ 80.90 touched at 2021.07.19 with 280 pip Profit.
95 + 185 + 280 = 560 pip

Open Profit:
Profit for one trade is 83.70(open price) - 80.48(current price) = 321 pip
6 trade(s) still open, therefore total profit for open trade(s) is 321 x 6 = 1926 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.
  • If the Midterm level 82.75 is broken, we will close open trades.

DateJuly 31, 2021 - 11:00
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBearish

Midterm forecast:

  • 82.75 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 82.75 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 81.65 on 07/23/2021, so more losses to support(s) 80.45, 79.60, 78.45 and more depths 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 35.

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.