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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

Download MT4 template file

Trade Setup
#CADJPY
Total Profit: 3131 pip
Closed trade(s): 1119 pip Profit
Open trade(s): 2012 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 78.49 (day close price) based on 'Hammer' at 2020.10.29 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 79.60 touched at 2020.11.03 with 111 pip Profit.
TP2 @ 80.55 touched at 2020.11.09 with 206 pip Profit.
TP3 @ 81.75 touched at 2020.12.10 with 326 pip Profit.
TP4 @ 83.25 touched at 2021.02.15 with 476 pip Profit.
111 + 206 + 326 + 476 = 1119 pip

Open Profit:
Profit for one trade is 83.52(current price) - 78.49(open price) = 503 pip
4 trade(s) still open, therefore total profit for open trade(s) is 503 x 4 = 2012 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 80.55 is broken, we will close open trades.

DateFebruary 20, 2021 - 19:09
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 80.55 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 80.55 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 81.00 on 01/28/2021, so more gains to resistance(s) 84.75, 88.45, 91.65 and more heights 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 70.

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.