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

Download MT4 template file

Trade Setup

#AUDJPY
Total Profit: -1737 pip
Closed trade(s): 0 pip Profit
Open trade(s): -1737 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 82.08 (day close price) based on 'Two-day reversal candle & Valley' at 2018.09.28 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Open Profit:
Profit for one trade is 80.15(current price) - 82.08(open price) = -193 pip
9 trade(s) still open, therefore total profit for open trade(s) is -193 x 9 = -1737 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateSun, 10/07/2018 - 10:59
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 78.65, beginning of uptrend is expected.
  • We make sure when the resistance at 83.90 breaks.
  • If the support at 78.65 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 80.495 on 2018-03-23 and the trough at 78.68 on 2018-09-07, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • The RSI support #1 at 50 is broken, so the probability of beginning of uptrend is decreased.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Take Profits:

  1. 82.50
  2. 83.10
  3. 83.90
  4. 84.50
  5. 85.85
  6. 87.00
  7. 89.05
  8. 90.30
Click on the level to view price action history.