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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY
Trade Setup

#CADJPY
Total Profit: 2624 pip
Closed trade(s): 1119 pip Profit
Open trade(s): 1505 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.
TP4 @ 84.75 touched at 2021.08.20 with 396 pip Profit.
126 + 266 + 331 + 396 = 1119 pip

Open Profit:
Profit for one trade is 88.71(open price) - 86.56(current price) = 215 pip
7 trade(s) still open, therefore total profit for open trade(s) is 215 x 7 = 1505 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.

DateSeptember 12, 2021 - 14:30
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:

  • 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.
  • While the RSI resistance #1 at 53 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 87.88 on 09/03/2021, so more losses to support(s) 86.05, 85.40, 84.75 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.

Symbol Released Current Forecast
Canadian Dollar / Japanese Yen (CADJPY) new free Sun, 17 Mar 2024
Canadian Dollar / Japanese Yen (CADJPY) free Sun, 10 Mar 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 3 Mar 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 25 Feb 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 18 Feb 2024