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

#AUDJPY
Total Profit: 7593 pip
Closed trade(s): 6970 pip Profit
Open trade(s): 623 pip Profit

Trade Setup:
We opened 10 SELL trades @ 106.578 based on 'shooting' entry method at 2024-07-16.

Closed Profit:
TP1 @ 106.059 touched at 2024-07-17 with 52 pip Profit.
TP2 @ 104.528 touched at 2024-07-18 with 205 pip Profit.
TP3 @ 102.546 touched at 2024-07-24 with 403 pip Profit.
TP4 @ 100.791 touched at 2024-07-25 with 579 pip Profit.
TP5 @ 99.000 touched at 2024-07-31 with 758 pip Profit.
TP6 @ 96.835 touched at 2024-08-02 with 974 pip Profit.
TP7 @ 94.867 touched at 2024-08-05 with 1171 pip Profit.
TP8 @ 93.104 touched at 2024-08-05 with 1348 pip Profit.
TP9 @ 91.781 touched at 2024-08-05 with 1480 pip Profit.
52 + 205 + 403 + 579 + 758 + 974 + 1171 + 1348 + 1480 = 6970 pip

Open Profit:
Profit for one SELL trade is 106.578(open price) - 100.352(current price) = 623 pip
1 trade(s) still open, therefore total profit for open trade(s) is 623 x 1 = 623 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 104.856 is broken, we will close open trades.
DateNovember 3, 2024 - 10:33
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 104.856, resumption of downtrend is expected.
  • We make sure when the support at 93.580 breaks.
  • If the resistance at 104.856 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 104.856 is broken.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • The RSI uptrend #1 is broken, so the probability of resumption of downtrend is increased.
  • A trough is formed in daily chart at 93.580 on 09/11/2024, so more gains to resistance(s) 101.663, 102.600 and maximum to Major Resistance (104.856) 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 53.

Take Profits:

  1. 99.628
  2. 97.551
  3. 95.693
  4. 93.580
  5. 91.781
  6. 89.690
Click on the level to view price action history.
Symbol Released Current Forecast
Australian Dollar / Japanese Yen (AUDJPY) new free Sun, 1 Dec 2024
Australian Dollar / Japanese Yen (AUDJPY) Sun, 24 Nov 2024
Australian Dollar / Japanese Yen (AUDJPY) Wed, 20 Nov 2024
Australian Dollar / Japanese Yen (AUDJPY) Sat, 9 Nov 2024
Australian Dollar / Japanese Yen (AUDJPY) Sun, 3 Nov 2024
History
Daily-Trading-Opportunities on AUDJPY.