website utilities


Follow us:
+1 64 64 8000 31 (New York, USA)
You are not logged in, you need subscription to view up-to-date forecasts, please Login if you have already subscribed, otherwise please Subscribe
You can still continue browsing delayed forecasts on the sidebar list.
Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

Download MT4 template file

Trade Setup
#CADJPY
Total Profit: 368 pip
Closed trade(s): 88 pip Profit
Open trade(s): 280 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 78.72 (day close price) based on 'Two-day reversal candle(Hammer)' at 2020.07.31 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 79.60 touched at 2020.08.05 with 88 pip Profit.

Open Profit:
Profit for one trade is 79.12(current price) - 78.72(open price) = 40 pip
7 trade(s) still open, therefore total profit for open trade(s) is 40 x 7 = 280 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.
DateAugust 8, 2020 - 18:28
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:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • The RSI bounced from the support #1 at 39 and it prevented price from more losses.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 77.55 on 07/31/2020, so more gains to resistance(s) 79.60, 80.55 and maximum to Major Resistance (81.75) 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 51.

Take Profits:

  1. 79.60
  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.
Symbol Released Current Forecast
Canadian Dollar / Japanese Yen (CADJPY) new Sun, 21 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 14 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sat, 6 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Mon, 1 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 31 Mar 2024
History
Daily-Trading-Opportunities on CADJPY.