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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trade Setup
#EURJPY
Total Profit: 3213 pip
Closed trade(s): 453 pip Profit
Open trade(s): 2760 pip Profit

Trade Setup:
We opened 11 BUY trade(s) @ 116.29 (day close price) based on 'Valley' at 2020.05.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 117.10 touched at 2020.05.18 with 81 pip Profit.
TP2 @ 117.75 touched at 2020.05.19 with 146 pip Profit.
TP3 @ 118.55 touched at 2020.05.27 with 226 pip Profit.
81 + 146 + 226 = 453 pip

Open Profit:
Profit for one trade is 119.74(current price) - 116.29(open price) = 345 pip
8 trade(s) still open, therefore total profit for open trade(s) is 345 x 8 = 2760 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 117.10 is broken, we will close open trades.

DateMay 30, 2020 - 22:45
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 117.10, beginning of uptrend is expected.
  • We make sure when the resistance at 122.85 breaks.
  • If the support at 117.10 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 117.10 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 117.02 on 05/22/2020, so more gains to resistance(s) 120.00, 121.15 and maximum to Major Resistance (122.85) 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 68.

Take Profits:

  1. 117.10
  2. 117.75
  3. 118.55
  4. 120.00
  5. 121.15
  6. 122.85
  7. 126.65
  8. 129.10
  9. 133.10
  10. 137.50
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Japanese Yen (EURJPY) free Sat, 11 Jul 2020
Euro / Japanese Yen (EURJPY) free Sat, 4 Jul 2020
Euro / Japanese Yen (EURJPY) free Sat, 27 Jun 2020
Euro / Japanese Yen (EURJPY) free Sat, 20 Jun 2020
Euro / Japanese Yen (EURJPY) free Sat, 13 Jun 2020