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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

Download MT4 template file

Trade Setup
#CADJPY
Total Profit: 1614 pip
Closed trade(s): 649 pip Profit
Open trade(s): 965 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.
TP4 @ 84.25 touched at 2020.01.13 with 306 pip Profit.
46 + 91 + 206 + 306 = 649 pip

Open Profit:
Profit for one trade is 83.12(current price) - 81.19(open price) = 193 pip
5 trade(s) still open, therefore total profit for open trade(s) is 193 x 5 = 965 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 82.90 is broken, we will close open trades.

DateJanuary 25, 2020 - 21:16
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 82.90 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 82.90 is broken.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of continuation of uptrend is decreased.
  • A trough is formed in daily chart at 82.80 on 01/08/2020, so more gains to resistance(s) 83.25, 84.25, 85.25 and more heights 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 43.

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.