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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup

#CADJPY
Total Profit: 1379 pip
Closed trade(s): 723 pip Profit
Open trade(s): 656 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.
TP2 @ 86.05 touched at 2021.07.19 with 266 pip Profit.
TP3 @ 85.40 touched at 2021.07.19 with 331 pip Profit.
126 + 266 + 331 = 723 pip

Open Profit:
Profit for one trade is 88.71(open price) - 87.89(current price) = 82 pip
8 trade(s) still open, therefore total profit for open trade(s) is 82 x 8 = 656 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 31, 2021 - 15:10
Currentdowntrend
Forecastcontinuation of downtrend
Last weekBullish

Midterm forecast:

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

Technical analysis:

  • A trough is formed in daily chart at 87.04 on 07/28/2021, so more gains to resistance(s) 88.30, 89.70, 90.70 and maximum to Major Resistance (91.60) 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. 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.