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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: -154 pip
Closed trade(s): 22 pip Profit
Open trade(s): -176 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 108.43 (day close price) based on 'Valley' at 2019.09.04 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 108.65 touched at 2019.09.05 with 22 pip Profit.

Open Profit:
Profit for one trade is 108.21(current price) - 108.43(open price) = -22 pip
8 trade(s) still open, therefore total profit for open trade(s) is -22 x 8 = -176 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.

DateSeptember 7, 2019 - 19:55
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 106.250, beginning of uptrend is expected.
  • We make sure when the resistance at 110.500 breaks.
  • If the support at 106.250 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 110.80 on 07/01/2019, so more losses to support(s) 107.65, 106.85 and minimum to Major Support (106.25) 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 48.

Take Profits:

  1. 108.65
  2. 109.10
  3. 109.90
  4. 110.50
  5. 112.15
  6. 113.80
  7. 116.15
  8. 118.55
Click on the level to view price action history.