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

#AUDJPY
Total Profit: 1799 pip
Closed trade(s): 461 pip Profit
Open trade(s): 1338 pip Profit

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

Closed Profit:
TP1 @ 93.949 touched at 2022-06-13 with 137 pip Profit.
TP2 @ 92.077 touched at 2022-06-16 with 324 pip Profit.
137 + 324 = 461 pip

Open Profit:
Profit for one SELL trade is 95.315(open price) - 93.087(current price) = 223 pip
6 trade(s) still open, therefore total profit for open trade(s) is 223 x 6 = 1338 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.

DateJuly 31, 2022 - 12:29
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 96.870, resumption of downtrend is expected.
  • We make sure when the support at 91.000 breaks.
  • If the resistance at 96.870 is broken, the short-term forecast -resumption 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 resumption of downtrend is increased.
  • A peak is formed in daily chart at 95.740 on 07/20/2022, so more losses to support(s) 92.270 and minimum to Major Support (91.000) 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 45.

Take Profits:

  1. 94.060
  2. 92.270
  3. 91.000
  4. 88.860
  5. 87.359
  6. 86.000
  7. 73.100
Click on the level to view price action history.