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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

Download MT4 template file

Trade Setup
#CADJPY
Total Profit: 5065 pip
Closed trade(s): 2741 pip Profit
Open trade(s): 2324 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.
TP5 @ 84.75 touched at 2021.02.25 with 626 pip Profit.
TP6 @ 88.45 touched at 2021.04.29 with 996 pip Profit.
111 + 206 + 326 + 476 + 626 + 996 = 2741 pip

Open Profit:
Profit for one trade is 90.11(current price) - 78.49(open price) = 1162 pip
2 trade(s) still open, therefore total profit for open trade(s) is 1162 x 2 = 2324 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 88.30 is broken, we will close open trades.

DateJune 12, 2021 - 14:34
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 88.30 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 88.30 is broken.

Technical analysis:

  • While the RSI resistance #1 at 74 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 91.15 on 06/03/2021, so more losses to support(s) 88.45 and minimum to Major Support (88.30) 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 52.

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.