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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: -2159 pip
Closed trade(s): 46 pip Profit
Open trade(s): -2205 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 114.01 (day close price) based on 'Shooting starTwo-day reversal candle' at 2020.07.09 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 113.55 touched at 2020.07.10 with 46 pip Profit.

Open Profit:
Profit for one trade is 114.01(open price) - 117.16(current price) = -315 pip
7 trade(s) still open, therefore total profit for open trade(s) is -315 x 7 = -2205 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
DateAugust 15, 2020 - 20:53
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 118.550, beginning of downtrend is expected.
  • We make sure when the support at 114.200 breaks.
  • If the resistance at 118.550 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 114.10 on 07/27/2020, so more gains to resistance(s) 118.00 and maximum to Major Resistance (118.55) 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. 113.55
  2. 112.65
  3. 111.95
  4. 111.15
  5. 109.90
  6. 108.65
  7. 106.75
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.