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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup

#CHFJPY
Total Profit: 1594 pip
Closed trade(s): 152 pip Profit
Open trade(s): 1442 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 109.68 (day close price) based on 'Hammer' at 2018.05.29 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 111.20 touched at 2018.06.04 with 152 pip Profit.

Open Profit:
Profit for one trade is 111.74(current price) - 109.68(open price) = 206 pip
7 trade(s) still open, therefore total profit for open trade(s) is 206 x 7 = 1442 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateJune 30, 2018 - 15:01
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 108.350, beginning of uptrend is expected.
  • We make sure when the resistance at 112.250 breaks.
  • If the support at 108.350 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the support #1 at 44 and it prevented price from more losses.
  • A trough is formed in daily chart at 110.30 on 06/28/2018, so more gains maximum to Major Resistance (112.25) 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 58.

Take Profits:

  1. 111.20
  2. 112.25
  3. 113.40
  4. 114.70
  5. 116.45
  6. 117.35
  7. 118.55
Click on the level to view price action history.