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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup

#CHFJPY
Total Profit: 552 pip
Closed trade(s): 0 pip Profit
Open trade(s): 552 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 112.52 (day close price) based on 'Peak' at 2018.07.19 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Open Profit:
Profit for one trade is 112.52(open price) - 111.83(current price) = 69 pip
8 trade(s) still open, therefore total profit for open trade(s) is 69 x 8 = 552 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.
DateAugust 4, 2018 - 20:08
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.
  • The RSI bounced from the resistance #1 at 66 and it prevented price from more gains.
  • While the RSI uptrend #2 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 113.15 on 07/31/2018, so more losses to support(s) 111.20, 110.30, 108.50 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 48.

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) new Sun, 21 Apr 2024
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
History
Daily-Trading-Opportunities on CHFJPY.