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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY
Trade Setup

#AUDJPY
Total Profit: 328 pip
Closed trade(s): 0 pip Profit
Open trade(s): 328 pip Profit

Trade Setup:
We opened 8 SELL trades @ 95.315 based on 'Peak' entry method at 2022-06-09.

Open Profit:
Profit for one SELL trade is 95.315(open price) - 94.913(current price) = 41 pip
8 trade(s) still open, therefore total profit for open trade(s) is 41 x 8 = 328 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, 2022 - 12:17
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 96.870, beginning of downtrend is expected.
  • We make sure when the support at 86.000 breaks.
  • If the resistance at 96.870 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 94.306 on 2022-03-28 and the peak at 96.761 on 2022-06-09, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 96.870 on 06/08/2022, so more losses to support(s) 93.949, 92.077, 90.998 and minimum to Major Support (86.000) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 61.

Take Profits:

  1. 93.949
  2. 92.077
  3. 90.998
  4. 88.860
  5. 87.359
  6. 86.000
  7. 73.100
Click on the level to view price action history.