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

#CHFJPY
Total Profit: 4353 pip
Closed trade(s): 1545 pip Profit
Open trade(s): 2808 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.
TP3 @ 172.513 touched at 2024-11-26 with 293 pip Profit.
TP4 @ 170.957 touched at 2024-11-27 with 448 pip Profit.
TP5 @ 169.045 touched at 2024-12-02 with 639 pip Profit.
37 + 128 + 293 + 448 + 639 = 1545 pip

Open Profit:
Profit for one SELL trade is 175.439(open price) - 170.755(current price) = 468 pip
6 trade(s) still open, therefore total profit for open trade(s) is 468 x 6 = 2808 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.
DateDecember 8, 2024 - 00:50
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 177.703 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • A peak is formed in daily chart at 177.300 on 10/31/2024, so more losses to support(s) 169.045, 167.379, 165.280 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 42.

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 Sun, 19 Jan 2025
Swiss Franc / Japanese Yen (CHFJPY) Mon, 13 Jan 2025
Swiss Franc / Japanese Yen (CHFJPY) Sun, 5 Jan 2025
Swiss Franc / Japanese Yen (CHFJPY) Sun, 29 Dec 2024
Swiss Franc / Japanese Yen (CHFJPY) Tue, 24 Dec 2024
History
Daily-Trading-Opportunities on CHFJPY.