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Weekly forecast Australian Dollar vs. Japanese Yen technical chart
Symbol AUDJPY

Download MT4 template file

Trade Setup

#AUDJPY
Total Profit: 4252 pip
Closed trade(s): 1820 pip Profit
Open trade(s): 2432 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 88.11 (day close price) based on 'Peak' at 2018.01.09 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 87.00 touched at 2018.02.05 with 111 pip Profit.
TP2 @ 85.85 touched at 2018.02.06 with 226 pip Profit.
TP3 @ 84.70 touched at 2018.02.08 with 341 pip Profit.
TP4 @ 83.05 touched at 2018.02.28 with 506 pip Profit.
TP5 @ 81.75 touched at 2018.03.02 with 636 pip Profit.
111 + 226 + 341 + 506 + 636 = 1820 pip

Open Profit:
Profit for one trade is 88.11(open price) - 82.03(current price) = 608 pip
4 trade(s) still open, therefore total profit for open trade(s) is 608 x 4 = 2432 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 84.70 is broken, we will close open trades.
  • Price may also reach 84.70, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateSat, 07/07/2018 - 17:53
Currentrange bound
Forecastresumption of downtrend
Last weekBullish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 84.70 would begin in Midterm.
  • We will close our open trades, if the Midterm level 84.70 is broken.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • There is a divergence in RSI and price between the peak at 84.5 on 2018-05-22 and the peak at 84.55 on 2018-06-07, the probability of uptrend continuation is decreased and the probability of resumption of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of resumption of downtrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 80.65 on 06/19/2018, so more gains to resistance(s) 83.05 and maximum to Major Resistance (84.70) 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 50.

Take Profits:

  1. 87.00
  2. 85.85
  3. 84.70
  4. 83.05
  5. 81.75
  6. 79.60
  7. 76.80
  8. 72.50
Click on the level to view price action history.