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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: 46 pip
Closed trade(s): 46 pip Profit
Open trade(s): 0 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.

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

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateSeptember 21, 2020 - 22:09
Currentrange bound
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:

  • The RSI support #1 at 45 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 117.25 on 09/10/2020, so more losses minimum to Major Support (114.20) 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 37.

Supports and Resistances:

  1. 116.50
  2. 113.55
  3. 112.65
  4. 111.95
  5. 111.15
  6. 109.90
  7. 108.65
  8. 106.75
Click on the level to view price action history.