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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup

#CADJPY
Total Profit: 446 pip
Closed trade(s): 126 pip Profit
Open trade(s): 320 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 88.71 (day close price) based on 'Peak' at 2021.07.06.

Closed Profit:
TP1 @ 87.45 touched at 2021.07.08 with 126 pip Profit.

Open Profit:
Profit for one trade is 88.71(open price) - 88.39(current price) = 32 pip
10 trade(s) still open, therefore total profit for open trade(s) is 32 x 10 = 320 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJuly 10, 2021 - 17:38
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 91.600 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • A peak is formed in daily chart at 90.40 on 06/23/2021, so more losses to support(s) 88.30, 87.45, 86.05 and more depths 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 42.

Take Profits:

  1. 87.45
  2. 86.05
  3. 85.40
  4. 84.75
  5. 83.25
  6. 81.75
  7. 80.55
  8. 79.60
  9. 78.50
  10. 76.75
Click on the level to view price action history.