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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trade Setup
#EURJPY
Total Profit: 2419 pip
Closed trade(s): 669 pip Profit
Open trade(s): 1750 pip Profit

Trade Setup:
We opened 11 BUY trade(s) @ 117.89 based on 'Two-day reversal candle (Hammer)' at 2019.10.09 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 118.20 touched at 2019.10.10 with 31 pip Profit.
TP2 @ 119.25 touched at 2019.10.11 with 136 pip Profit.
TP3 @ 120.00 touched at 2019.10.15 with 211 pip Profit.
TP4 @ 120.80 touched at 2019.10.17 with 291 pip Profit.
31 + 136 + 211 + 291 = 669 pip

Open Profit:
Profit for one trade is 120.39(current price) - 117.89(open price) = 250 pip
7 trade(s) still open, therefore total profit for open trade(s) is 250 x 7 = 1750 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.
  • If the Midterm level 119.25 is broken, we will close open trades.
  • Price may also reach 119.25, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateNovember 9, 2019 - 17:50
Currentrange bound
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 119.25 would begin in Midterm.
  • We will close our open trades, if the Midterm level 119.25 is broken.

Technical analysis:

  • A peak is formed in daily chart at 121.45 on 10/31/2019, so more losses to support(s) 120.00 and minimum to Major Support (119.25) 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 53.

Take Profits:

  1. 118.20
  2. 119.25
  3. 120.00
  4. 120.80
  5. 122.30
  6. 123.70
  7. 125.10
  8. 126.65
  9. 129.10
  10. 133.10
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Japanese Yen (EURJPY) Sat, 1 Aug 2020
Euro / Japanese Yen (EURJPY) free Sat, 25 Jul 2020
Euro / Japanese Yen (EURJPY) free Sat, 18 Jul 2020
Euro / Japanese Yen (EURJPY) free Sat, 11 Jul 2020
Euro / Japanese Yen (EURJPY) free Sat, 4 Jul 2020