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

#CHFJPY:
Total Loss: 1626 pip
Closed trade(s): 1626 pip Loss

Trade Setup:
We opened 6 SELL trade(s) @ 125.10 based on 'Peak' at 2022.03.04 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Total Loss:
SL @ 127.81 touched at 2022.03.09 with 271 pip Loss.
Loss for one trade is 127.81(close price) - 125.10(open price) = 271 pip
Therefore total loss for trades is 271 x 6 = 1626 pip

Trading suggestion:

Price is above the Trend Hunter Sell Zone (125.58 to 127.10).

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (125.58)
  • Ending of entry zone (127.10)

DateMarch 20, 2022 - 13:50
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 126.800 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 125.501 on 2021-11-02 and the peak at 127.068 on 2022-01-04, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • A trough is formed in daily chart at 124.24 on 03/08/2022, so more gains maximum to Trend Hunter Sell Zone (125.58 to 127.10) 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 69.

Take Profits:

  1. 124.07
  2. 122.50
  3. 121.09
  4. 118.90
  5. 117.55
Click on the level to view price action history.