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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup
#CADJPY
Total Profit: 751 pip
Closed trade(s): 343 pip Profit
Open trade(s): 408 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 81.19 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.
TP3 @ 83.25 touched at 2019.10.28 with 206 pip Profit.
46 + 91 + 206 = 343 pip

Open Profit:
Profit for one trade is 81.87(current price) - 81.19(open price) = 68 pip
6 trade(s) still open, therefore total profit for open trade(s) is 68 x 6 = 408 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 81.25 is broken, we will close open trades.

DateDecember 7, 2019 - 17:30
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 81.25, beginning of uptrend is expected.
  • We make sure when the resistance at 84.25 breaks.
  • If the support at 81.25 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 81.25 is broken.

Technical analysis:

  • A peak is formed in daily chart at 82.75 on 12/05/2019, so more losses to support(s) 81.65 and minimum to Major Support (81.25) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 46.

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.