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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY
Trade Setup

#EURJPY
Total Profit: 2357 pip
Closed trade(s): 887 pip Profit
Open trade(s): 1470 pip Profit

Trade Setup:
We opened 8 SELL trades @ 140.427 based on 'Shooting Star' entry method at 2022-07-21.

Closed Profit:
TP1 @ 139.730 touched at 2022-07-22 with 70 pip Profit.
TP2 @ 137.808 touched at 2022-07-28 with 262 pip Profit.
TP3 @ 134.880 touched at 2022-08-02 with 555 pip Profit.
70 + 262 + 555 = 887 pip

Open Profit:
Profit for one SELL trade is 140.427(open price) - 137.493(current price) = 294 pip
5 trade(s) still open, therefore total profit for open trade(s) is 294 x 5 = 1470 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 6, 2022 - 13:55
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 144.250, resumption of downtrend is expected.
  • We make sure when the support at 133.145 breaks.
  • If the resistance at 144.250 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 133.390 on 08/02/2022, so more gains to resistance(s) 137.808, 139.730, 141.558 and maximum to Major Resistance (144.250) 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 46.

Take Profits:

  1. 139.730
  2. 137.808
  3. 134.910
  4. 133.145
  5. 130.160
  6. 127.474
  7. 124.493
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Japanese Yen (EURJPY) new Sat, 1 Oct 2022
Euro / Japanese Yen (EURJPY) Sat, 24 Sep 2022
Euro / Japanese Yen (EURJPY) Thu, 22 Sep 2022
Euro / Japanese Yen (EURJPY) free Sun, 18 Sep 2022
Euro / Japanese Yen (EURJPY) Sat, 10 Sep 2022