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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: 334 pip
Closed trade(s): 334 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 108.72 based on 'Two-day reversal candle (Hammer)' at 2019.06.19 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 109.10 touched at 2019.06.20 with 38 pip Profit.
TP2 @ 109.90 touched at 2019.06.21 with 118 pip Profit.
TP3 @ 110.50 touched at 2019.06.28 with 178 pip Profit.
38 + 118 + 178 = 334 pip

6 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

Regarding the entry signal of DTO we will invest at Monday - if no GAP - when the market opens.

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

  • Beginning of entry zone (107.90)
    • Support on 06/20/2016
    • Support on 06/21/2016
    • Resistance on 07/14/2016
    • Resistance on 07/15/2016
    • Resistance on 07/22/2016
    • Resistance on 07/25/2016
    • Resistance on 07/29/2016
    • Support on 11/14/2016
    • Support on 04/14/2017
    • Support on 04/17/2017
    • Support on 01/03/2019
    • Support on 05/07/2019
    • Support on 05/31/2019
  • Ending of entry zone (107.65)
    • Support on 06/16/2016
    • Support on 06/21/2016
    • Resistance on 07/14/2016
    • Resistance on 07/15/2016
    • Resistance on 07/22/2016
    • Resistance on 07/25/2016
    • Resistance on 07/28/2016
    • Resistance on 07/29/2016
    • Resistance on 11/08/2016
    • Resistance on 11/09/2016
    • Support on 04/17/2017
    • Support on 01/03/2019
    • Trough on 05/09/2019
    • Support on 05/09/2019
DateAugust 3, 2019 - 15:32
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 107.650, beginning of uptrend is expected.
  • We make sure when the resistance at 111.950 breaks.
  • If the support at 107.650 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of uptrend is decreased.
  • A peak is formed in daily chart at 110.05 on 07/22/2019, so more losses to support(s) 107.90 and minimum to Major Support (107.65) 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 35.

Take Profits:

  1. 108.60
  2. 109.10
  3. 109.90
  4. 110.50
  5. 111.95
  6. 113.40
  7. 114.60
  8. 116.15
  9. 118.55
Click on the level to view price action history.
Symbol Released Current Forecast
Swiss Franc / Japanese Yen (CHFJPY) Sun, 14 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 14 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 7 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 31 Mar 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 24 Mar 2024
History
Daily-Trading-Opportunities on CHFJPY.