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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

Download MT4 template file

Trade Setup

#CHFJPY
Total Profit: 1855 pip
Closed trade(s): 1855 pip Profit
Open trade(s): 0 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.
TP2 @ 112.25 touched at 2018.07.11 with 257 pip Profit.
152 + 257 = 409 pip

Closed Profit:
Profit for one trade is 112.09(current price) - 109.68(open price) = 241 pip
6 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 241 x 6 = 1446 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (112.25 to 113.40). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (112.25)
    • Support on 07/23/2014
    • Support on 07/24/2014
    • Support on 08/06/2014
    • Support on 08/07/2014
    • Support on 08/08/2014
    • Support on 10/13/2014
    • Support on 10/16/2014
    • Support on 10/22/2014
    • Support on 10/23/2014
    • Support on 01/15/2015
    • Support on 02/23/2016
    • Support on 03/01/2016
    • Support on 03/09/2016
    • Support on 04/15/2016
    • Resistance on 05/04/2016
    • Resistance on 05/10/2016
    • Resistance on 05/31/2016
    • Support on 12/02/2016
    • Support on 01/17/2017
    • Support on 01/18/2017
    • Support on 02/07/2017
    • Support on 02/08/2017
    • Support on 02/09/2017
    • Resistance on 02/24/2017
    • Resistance on 02/28/2017
    • Support on 03/07/2017
    • Support on 03/08/2017
    • Support on 03/21/2017
    • Resistance on 03/23/2017
    • Resistance on 03/24/2017
    • Resistance on 03/29/2017
    • Resistance on 04/26/2017
    • Resistance on 04/27/2017
    • Resistance on 04/28/2017
    • Support on 05/02/2017
    • Support on 03/05/2018
    • Support on 03/07/2018
    • Resistance on 03/09/2018
    • Support on 03/13/2018
    • Support on 03/14/2018
    • Resistance on 04/10/2018
    • Resistance on 06/07/2018
    • Resistance on 06/12/2018
    • Resistance on 06/13/2018
  • Ending of entry zone (113.40)
    • Resistance on 12/03/2013
    • Support on 12/06/2013
    • Resistance on 02/06/2014
    • Support on 05/19/2014
    • Support on 05/20/2014
    • Support on 05/21/2014
    • Support on 05/22/2014
    • Support on 05/23/2014
    • Support on 06/16/2014
    • Support on 06/17/2014
    • Support on 06/26/2014
    • Support on 06/27/2014
    • Support on 07/10/2014
    • Support on 07/11/2014
    • Support on 07/15/2014
    • Resistance on 08/01/2014
    • Resistance on 08/04/2014
    • Resistance on 08/18/2014
    • Support on 08/25/2014
    • Support on 09/02/2014
    • Resistance on 09/08/2014
    • Support on 10/02/2014
    • Support on 10/03/2014
    • Support on 01/15/2015
    • Support on 02/19/2016
    • Support on 02/25/2016
    • Support on 03/07/2016
    • Support on 03/10/2016
    • Resistance on 04/15/2016
    • Resistance on 04/21/2016
    • Resistance on 12/05/2016
    • Resistance on 12/06/2016
    • Resistance on 12/07/2016
    • Resistance on 12/09/2016
    • Support on 12/29/2016
    • Support on 01/11/2017
    • Support on 01/12/2017
    • Support on 01/13/2017
    • Resistance on 01/16/2017
    • Resistance on 01/17/2017
    • Support on 02/02/2017
    • Support on 02/03/2017
    • Resistance on 02/06/2017
    • Resistance on 02/10/2017
    • Resistance on 02/13/2017
    • Resistance on 03/03/2017
    • Support on 03/13/2017
    • Support on 03/14/2017
    • Resistance on 05/03/2017
    • Resistance on 05/09/2017
    • Resistance on 05/10/2017
    • Resistance on 05/11/2017
    • Resistance on 05/12/2017
    • Support on 05/19/2017
    • Support on 05/30/2017
    • Support on 05/31/2017
    • Support on 06/06/2017
    • Support on 06/07/2017
    • Support on 06/08/2017
    • Support on 06/09/2017
    • Support on 06/12/2017
    • Support on 06/13/2017
    • Support on 08/03/2017
    • Support on 08/04/2017
    • Support on 08/10/2017
    • Support on 08/11/2017
    • Resistance on 08/14/2017
    • Resistance on 08/21/2017
    • Resistance on 08/22/2017
    • Resistance on 08/23/2017
    • Support on 08/25/2017
    • Support on 09/08/2017
    • Support on 10/30/2017
    • Support on 10/31/2017
    • Support on 11/08/2017
    • Support on 11/09/2017
    • Support on 11/30/2017
    • Support on 12/06/2017
    • Support on 12/14/2017
    • Support on 12/15/2017
    • Support on 12/18/2017
DateJuly 15, 2018 - 12:40
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 114.700 would begin in Midterm.

Technical analysis:

  • The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
  • There is a divergence in RSI and price between the peak at 111.9 on 2018-05-22 and the peak at 112.95 on 2018-07-12, the probability of uptrend continuation is decreased and the probability of resumption of downtrend is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 112.95 on 07/12/2018, so more losses to support(s) 111.20, 110.30, 108.50 and more depths 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 59.

Take Profits:

  1. 111.20
  2. 110.30
  3. 108.50
  4. 105.90
  5. 104.15
  6. 101.80
  7. 100.00
Click on the level to view price action history.
Symbol Released Current Forecast
Swiss Franc / Japanese Yen (CHFJPY) Sun, 14 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 14 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 7 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 31 Mar 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 24 Mar 2024
History
Daily-Trading-Opportunities on CHFJPY.