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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY

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Trade Setup
#CADJPY
Total Profit: 1251 pip
Closed trade(s): 152 pip Profit
Open trade(s): 1099 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 81.39 based on 'Valley' at 2019.06.19 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 81.75 touched at 2019.06.20 with 36 pip Profit.
TP2 @ 82.55 touched at 2019.07.01 with 116 pip Profit.
36 + 116 = 152 pip

Open Profit:
Profit for one trade is 82.96(current price) - 81.39(open price) = 157 pip
7 trade(s) still open, therefore total profit for open trade(s) is 157 x 7 = 1099 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.

DateJuly 6, 2019 - 21:20
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 81.00, beginning of uptrend is expected.
  • We make sure when the resistance at 83.35 breaks.
  • If the support at 81.00 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.
  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 82.02 on 07/03/2019, so more gains maximum to Major Resistance (83.35) 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 68.

Take Profits:

  1. 81.75
  2. 82.55
  3. 83.35
  4. 84.25
  5. 85.25
  6. 86.30
  7. 88.45
  8. 91.65
Click on the level to view price action history.