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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup
#CADJPY
Total Profit: 767 pip
Closed trade(s): 137 pip Profit
Open trade(s): 630 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 81.19 (day close price) based on 'Valley' at 2019.10.10 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 81.65 touched at 2019.10.11 with 46 pip Profit.
TP2 @ 82.10 touched at 2019.10.11 with 91 pip Profit.
46 + 91 = 137 pip

Open Profit:
Profit for one trade is 82.09(current price) - 81.19(open price) = 90 pip
7 trade(s) still open, therefore total profit for open trade(s) is 90 x 7 = 630 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.

DateOctober 12, 2019 - 19:13
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 78.500, beginning of uptrend is expected.
  • We make sure when the resistance at 83.250 breaks.
  • If the support at 78.500 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 79.80 on 10/03/2019, so more gains to resistance(s) 82.10 and maximum to Major Resistance (83.25) 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 62.

Take Profits:

  1. 81.65
  2. 82.10
  3. 83.25
  4. 84.25
  5. 85.25
  6. 86.30
  7. 88.45
  8. 91.65
Click on the level to view price action history.