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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: 1455 pip
Closed trade(s): 381 pip Profit
Open trade(s): 1074 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 107.78 based on 'Valley' at 2019.10.07 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 108.15 touched at 2019.10.10 with 37 pip Profit.
TP2 @ 108.95 touched at 2019.10.11 with 117 pip Profit.
TP3 @ 110.05 touched at 2019.10.18 with 227 pip Profit.
37 + 117 + 227 = 381 pip

Open Profit:
Profit for one trade is 109.57(current price) - 107.78(open price) = 179 pip
6 trade(s) still open, therefore total profit for open trade(s) is 179 x 6 = 1074 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.
  • If the Midterm level 108.15 is broken, we will close open trades.

DateDecember 7, 2019 - 17:32
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 108.15, beginning of uptrend is expected.
  • We make sure when the resistance at 112.25 breaks.
  • If the support at 108.15 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 108.15 is broken.

Technical analysis:

  • A peak is formed in daily chart at 110.25 on 12/05/2019, so more losses to support(s) 108.95 and minimum to Major Support (108.15) 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 49.

Take Profits:

  1. 108.15
  2. 108.95
  3. 110.05
  4. 111.15
  5. 112.25
  6. 113.80
  7. 114.65
  8. 116.15
Click on the level to view price action history.