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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup
#CADJPY
Total Profit: 1117 pip
Closed trade(s): 137 pip Profit
Open trade(s): 980 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 82.59(current price) - 81.19(open price) = 140 pip
7 trade(s) still open, therefore total profit for open trade(s) is 140 x 7 = 980 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.
  • If the Midterm level 81.650 is broken, we will close open trades.
  • Price may also reach 81.650, 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.

DateOctober 19, 2019 - 18:35
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 81.650, beginning of uptrend is expected.
  • We make sure when the resistance at 84.250 breaks.
  • If the support at 81.650 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 81.650 is broken.

Technical analysis:

  • A trough is formed in daily chart at 79.80 on 10/03/2019, so more gains to resistance(s) 83.25 and maximum to Major Resistance (84.25) 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 64.

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.

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