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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup

#CADJPY
Total Profit: 9012 pip
Closed trade(s): 9012 pip Profit
Open trade(s): 0 pip Profit
_______________________________________________
Trade Setup:
We opened 15 BUY trade(s) @ 81.91 (day close price) based on 'Valley' at 2017.06.09 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 83.35 touched at 2017.06.14 with 144 pip Profit.
TP2 @ 84.55 touched at 2017.06.27 with 264 pip Profit.
TP3 @ 85.60 touched at 2017.06.28 with 369 pip Profit.
TP4 @ 87.40 touched at 2017.07.04 with 549 pip Profit.
TP5 @ 88.75 touched at 2017.07.11 with 684 pip Profit.
TP6 @ 90.55 touched at 2017.09.12 with 864 pip Profit.
144 + 264 + 369 + 549 + 684 + 864 = 2874 pip

Closed Profit:
Profit for one trade is 88.73(current price) - 81.91(open price) = 682 pip
9 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 682 x 9 = 6138 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (89.35 to 91.65). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (89.35)
    • Support on 10/17/2017
    • Support on 10/16/2017
    • Support on 10/13/2017
    • Resistance on 09/06/2017
    • Resistance on 07/28/2017
    • Resistance on 07/27/2017
    • Resistance on 07/12/2017
  • Ending of entry zone (91.65)
    • Peak on 09/15/2017
    • Resistance on 09/15/2017
    • Support on 12/04/2015
    • Support on 12/03/2015
    • Support on 11/30/2015
    • Support on 11/27/2015
    • Support on 11/24/2015
    • Support on 11/23/2015
DateOctober 29, 2017 - 22:21
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.

Technical analysis:

  • A peak is formed in daily chart at 90.75 on 10/19/2017, so more losses to support(s) 87.50, 86.20, 85.45 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 39.

Take Profits:

  1. 88.75
  2. 87.50
  3. 86.20
  4. 85.45
  5. 84.55
  6. 83.35
  7. 80.85
  8. 78.90
  9. 75.40
  10. 72.15
  11. 68.85
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.