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

#CADJPY
Total Profit: -835 pip
Closed trade(s): 0 pip Profit
Open trade(s): -835 pip Profit

Trade Setup:
We opened 5 SELL trades @ 104.625 based on 'Peak' entry method at 2022-07-01.

Open Profit:
Profit for one SELL trade is 104.625(open price) - 106.297(current price) = -167 pip
5 trade(s) still open, therefore total profit for open trade(s) is -167 x 5 = -835 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 17, 2022 - 10:59
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 107.179, beginning of downtrend is expected.
  • We make sure when the support at 97.771 breaks.
  • If the resistance at 107.179 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 100.182 on 2022-03-28 and the peak at 107.2 on 2022-06-08, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 103.355 on 07/06/2022, so more gains maximum to Major Resistance (107.179) 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 60.

Take Profits:

  1. 102.780
  2. 101.110
  3. 97.771
  4. 92.158
Click on the level to view price action history.
Symbol Released Current Forecast
Canadian Dollar / Japanese Yen (CADJPY) Sun, 14 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sat, 6 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Mon, 1 Apr 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 31 Mar 2024
Canadian Dollar / Japanese Yen (CADJPY) Sun, 24 Mar 2024
History
Daily-Trading-Opportunities on CADJPY.