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

#CHFJPY
Total Profit: 1200 pip
Closed trade(s): 165 pip Profit
Open trade(s): 1035 pip Profit

Trade Setup:
We opened 11 SELL trades @ 175.439 based on 'Shooting star' entry method at 2024-11-05, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 175.068 touched at 2024-11-07 with 37 pip Profit.
TP2 @ 174.157 touched at 2024-11-08 with 128 pip Profit.
37 + 128 = 165 pip

Open Profit:
Profit for one SELL trade is 175.439(open price) - 174.286(current price) = 115 pip
9 trade(s) still open, therefore total profit for open trade(s) is 115 x 9 = 1035 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 10, 2024 - 00:07
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 180.017, resumption of downtrend is expected.
  • We make sure when the support at 172.513 breaks.
  • If the resistance at 180.017 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 177.300 on 10/31/2024, so more losses to support(s) 174.157 and minimum to Major Support (172.513) 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 49.

Take Profits:

  1. 175.068
  2. 174.157
  3. 172.513
  4. 170.957
  5. 169.045
  6. 167.379
  7. 165.280
  8. 163.160
  9. 161.640
  10. 159.104
Click on the level to view price action history.
Symbol Released Current Forecast
Swiss Franc / Japanese Yen (CHFJPY) new free Tue, 3 Dec 2024
Swiss Franc / Japanese Yen (CHFJPY) free Fri, 29 Nov 2024
Swiss Franc / Japanese Yen (CHFJPY) free Sun, 24 Nov 2024
Swiss Franc / Japanese Yen (CHFJPY) Wed, 20 Nov 2024
Swiss Franc / Japanese Yen (CHFJPY) free Fri, 15 Nov 2024
History
Daily-Trading-Opportunities on CHFJPY.