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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY
Trade Setup

#CHFJPY
Total Profit: 699 pip
Closed trade(s): 42 pip Profit
Open trade(s): 657 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 120.42 (day close price) based on 'Peak' at 2021.08.06 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 120.00 touched at 2021.08.09 with 42 pip Profit.

Open Profit:
Profit for one trade is 120.42(open price) - 119.69(current price) = 73 pip
9 trade(s) still open, therefore total profit for open trade(s) is 73 x 9 = 657 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.

DateSeptember 10, 2021 - 20:57
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 122.75, beginning of downtrend is expected.
  • We make sure when the support at 118.90 breaks.
  • If the resistance at 122.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 120.60 on 08/30/2021, so more losses minimum to Major Support (118.90) 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. 120.00
  2. 118.90
  3. 118.15
  4. 117.55
  5. 116.55
  6. 115.83
  7. 114.64
  8. 113.70
  9. 112.60
Click on the level to view price action history.

Symbol Released Current Forecast
Swiss Franc / Japanese Yen (CHFJPY) new Sat, 23 Oct 2021
Swiss Franc / Japanese Yen (CHFJPY) Sat, 16 Oct 2021
Swiss Franc / Japanese Yen (CHFJPY) Sat, 9 Oct 2021
Swiss Franc / Japanese Yen (CHFJPY) Sun, 3 Oct 2021
Swiss Franc / Japanese Yen (CHFJPY) Sat, 25 Sep 2021