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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

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Trade Setup

#AUDJPY
Total Profit: 691 pip
Closed trade(s): 138 pip Profit
Open trade(s): 553 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 82.11 (day close price) based on 'Two-day reversal candle (Hammer)' at 2018.11.21 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/A...

Closed Profit:
TP1 @ 82.50 touched at 2018.11.27 with 39 pip Profit.
TP2 @ 83.10 touched at 2018.11.28 with 99 pip Profit.
39 + 99 = 138 pip

Open Profit:
Profit for one trade is 82.90(current price) - 82.11(open price) = 79 pip
7 trade(s) still open, therefore total profit for open trade(s) is 79 x 7 = 553 pip
 

Trading suggestion:

Regarding the entry signal of DTO we will invest at Monday - if no GAP - when the market opens.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (81.30)
    • Resistance on 03/23/2018
    • Support on 04/04/2018
    • Support on 05/08/2018
    • Support on 05/09/2018
    • Support on 05/29/2018
    • Support on 05/30/2018
    • Support on 06/25/2018
    • Support on 06/26/2018
    • Support on 07/02/2018
    • Support on 07/03/2018
    • Support on 07/05/2018
    • Resistance on 08/21/2018
    • Resistance on 08/22/2018
    • Resistance on 08/23/2018
    • Support on 09/20/2018
    • Support on 09/27/2018
    • Support on 10/02/2018
    • Support on 10/03/2018
    • Resistance on 11/01/2018
    • Support on 11/13/2018
    • Support on 11/20/2018
    • Support on 11/21/2018
  • Ending of entry zone (80.50)
    • Support on 03/23/2018
    • Support on 03/26/2018
    • Resistance on 08/16/2018
    • Support on 08/21/2018
    • Support on 08/23/2018
    • Support on 08/24/2018
    • Support on 08/30/2018
    • Resistance on 09/13/2018
    • Resistance on 09/14/2018
    • Resistance on 09/17/2018
    • Support on 10/04/2018
    • Resistance on 10/10/2018
    • Resistance on 10/18/2018
    • Resistance on 10/19/2018

DateDecember 1, 2018 - 18:04
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 78.650, beginning of uptrend is expected.
  • We make sure when the resistance at 83.100 breaks.
  • If the support at 78.650 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI resistance #1 at 62 is broken, so the probability of beginning of uptrend is increased.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 81.20 on 11/21/2018, so more gains maximum to Major Resistance (83.10) 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 61.

Take Profits:

  1. 82.50
  2. 83.10
  3. 83.90
  4. 84.45
  5. 85.80
  6. 87.50
  7. 89.05
  8. 90.30
Click on the level to view price action history.