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

#AUDJPY
Total Profit: 797 pip
Closed trade(s): 111 pip Profit
Open trade(s): 686 pip Profit

Trade Setup:
We opened 8 SELL trades @ 90.08 based on 'Two-Day Reversal candle (D2 Shooting Star)' entry method at 2022-12-29, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 88.970 touched at 2023-01-02 with 111 pip Profit.

Open Profit:
Profit for one SELL trade is 90.08(open price) - 89.097(current price) = 98 pip
7 trade(s) still open, therefore total profit for open trade(s) is 98 x 7 = 686 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.

DateJanuary 2, 2023 - 17:57
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • While the price is below the resistance 93.000, continuation of downtrend is expected.
  • We make sure when the support at 85.904 breaks.
  • If the resistance at 93.000 is broken, the short-term forecast -continuation of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 91.045 on 12/28/2022, so more losses to support(s) 88.970, 87.359 and minimum to Major Support (85.904) 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 39.

Take Profits:

  1. 88.970
  2. 87.359
  3. 85.904
  4. 84.608
  5. 82.032
  6. 80.200
  7. 78.795
Click on the level to view price action history.