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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup
#CADJPY
Total Profit: -592 pip
Closed trade(s): 0 pip Profit
Open trade(s): -592 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 79.49 (day close price) based on 'Valley' at 2020.06.30 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Open Profit:
Profit for one trade is 78.75(current price) - 79.49(open price) = -74 pip
8 trade(s) still open, therefore total profit for open trade(s) is -74 x 8 = -592 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.

DateJuly 18, 2020 - 18:21
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 73.850, beginning of uptrend is expected.
  • We make sure when the resistance at 81.750 breaks.
  • If the support at 73.850 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 38 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 78.35 on 07/10/2020, so more gains to resistance(s) 78.85, 79.90, 80.55 and maximum to Major Resistance (81.75) 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 48.

Take Profits:

  1. 79.90
  2. 80.55
  3. 81.75
  4. 83.25
  5. 84.75
  6. 88.45
  7. 91.65
Click on the level to view price action history.