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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: 724 pip
Closed trade(s): 334 pip Profit
Open trade(s): 390 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 108.72 based on 'Two-day reversal candle (Hammer)' at 2019.06.19 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 109.10 touched at 2019.06.20 with 38 pip Profit.
TP2 @ 109.90 touched at 2019.06.21 with 118 pip Profit.
TP3 @ 110.50 touched at 2019.06.28 with 178 pip Profit.
38 + 118 + 178 = 334 pip

Open Profit:
Profit for one trade is 109.37(current price) - 108.72(open price) = 65 pip
6 trade(s) still open, therefore total profit for open trade(s) is 65 x 6 = 390 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.

DateJuly 6, 2019 - 20:50
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 107.650, beginning of uptrend is expected.
  • We make sure when the resistance at 111.950 breaks.
  • If the support at 107.650 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI bounced from the uptrend #1 and it prevented price from more losses.
  • A peak is formed in daily chart at 110.80 on 07/01/2019, so more losses to support(s) 109.10, 108.60, 107.90 and minimum to Major Support (107.65) 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. 109.10
  2. 109.90
  3. 110.50
  4. 111.95
  5. 113.40
  6. 114.60
  7. 116.15
  8. 118.55
Click on the level to view price action history.