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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup
#CADJPY
Total Profit: 438 pip
Closed trade(s): 8 pip Profit
Open trade(s): 430 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 85.73 based on 'Peak' at 2018.10.18 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 85.65 touched at 2018.10.19 with 8 pip Profit.

Open Profit:
Profit for one trade is 85.73(open price) - 85.30(current price) = 43 pip
10 trade(s) still open, therefore total profit for open trade(s) is 43 x 10 = 430 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.
DateNovember 24, 2018 - 16:46
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 a downtrend wave below 91.650 would begin in Midterm.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • The RSI bounced from the support #2 at 35 and it prevented price from more losses.
  • A trough is formed in daily chart at 84.60 on 11/20/2018, so more gains to resistance(s) 85.65, 86.90, 87.45 and maximum to Major Resistance (91.65) 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 43.

Take Profits:

  1. 85.65
  2. 84.25
  3. 83.50
  4. 82.15
  5. 80.55
  6. 79.60
  7. 78.80
  8. 75.40
  9. 72.15
  10. 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.