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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup
#CADJPY
Total Profit: 293 pip
Closed trade(s): 133 pip Profit
Open trade(s): 160 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 80.71 (day close price) based on 'Valley' at 2019.06.04 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 81.00 touched at 2019.06.05 with 29 pip Profit.
TP2 @ 81.75 touched at 2019.06.10 with 104 pip Profit.
29 + 104 = 133 pip

Open Profit:
Profit for one trade is 80.91(current price) - 80.71(open price) = 20 pip
8 trade(s) still open, therefore total profit for open trade(s) is 20 x 8 = 160 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJune 15, 2019 - 20:14
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 79.700, beginning of uptrend is expected.
  • We make sure when the resistance at 82.550 breaks.
  • If the support at 79.700 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 82.10 on 06/11/2019, so more losses to support(s) 80.55, 79.95 and minimum to Major Support (79.70) 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. 81.00
  2. 81.75
  3. 82.55
  4. 83.35
  5. 84.25
  6. 85.25
  7. 86.30
  8. 88.45
  9. 91.65
Click on the level to view price action history.