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

#CHFJPY
Total Profit: 2258 pip
Closed trade(s): 424 pip Profit
Open trade(s): 1834 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.
TP2 @ 118.90 touched at 2021.09.15 with 152 pip Profit.
TP3 @ 118.12 touched at 2021.09.16 with 230 pip Profit.
42 + 152 + 230 = 424 pip

Open Profit:
Profit for one trade is 120.42(open price) - 117.80(current price) = 262 pip
7 trade(s) still open, therefore total profit for open trade(s) is 262 x 7 = 1834 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.
  • If the Midterm level 118.900 is broken, we will close open trades.

DateSeptember 17, 2021 - 21:54
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 118.900 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 118.900 is broken.

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 to support(s) 117.55, 116.55, 115.83 and more depths 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 26.

Take Profits:

  1. 120.00
  2. 118.90
  3. 118.12
  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.