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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: 109 pip
Closed trade(s): 109 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 115.22 (day close price) based on 'Peak' at 2020.10.13 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 115.15 touched at 2020.10.14 with 7 pip Profit.
TP2 @ 114.20 touched at 2020.10.28 with 102 pip Profit.
7 + 102 = 109 pip

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

#CHFJPY
Total Profit: 352 pip
Closed trade(s): 0 pip Profit
Open trade(s): 352 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 114.98 (day close price) based on 'Shooting star' at 2020.11.10 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Open Profit:
Profit for one trade is 114.98(open price) - 114.55(current price) = 44 pip
8 trade(s) still open, therefore total profit for open trade(s) is 44 x 8 = 352 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.

DateNovember 14, 2020 - 17:20
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 117.900, beginning of downtrend is expected.
  • We make sure when the support at 113.250 breaks.
  • If the resistance at 117.900 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 116.08 on 11/09/2020, so more losses to support(s) 114.20 and minimum to Major Support (113.25) 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 46.

Take Profits:

  1. 114.20
  2. 113.25
  3. 111.95
  4. 111.15
  5. 109.90
  6. 108.65
  7. 106.75
Click on the level to view price action history.