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

#EURJPY
Total Profit: -671 pip
Closed trade(s): 106 pip Profit
Open trade(s): -777 pip Profit

Trade Setup:
We opened 8 SELL trades @ 143.816 based on 'Peak' entry method at 2022-11-10.

Closed Profit:
TP1 @ 142.762 touched at 2022-11-11 with 106 pip Profit.

Open Profit:
Profit for one SELL trade is 143.816(open price) - 144.928(current price) = -111 pip
7 trade(s) still open, therefore total profit for open trade(s) is -111 x 7 = -777 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.

DateNovember 19, 2022 - 23:52
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 148.400, beginning of downtrend is expected.
  • We make sure when the support at 141.533 breaks.
  • If the resistance at 148.400 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 145.629 on 2022-09-12 and the peak at 148.395 on 2022-10-21, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 147.095 on 11/09/2022, so more losses to support(s) 144.250, 142.762 and minimum to Major Support (141.533) 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 50.

Take Profits:

  1. 142.762
  2. 141.533
  3. 139.926
  4. 138.180
  5. 134.910
  6. 133.145
  7. 130.160
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Japanese Yen (EURJPY) Sun, 29 Jan 2023
Euro / Japanese Yen (EURJPY) Sun, 22 Jan 2023
Euro / Japanese Yen (EURJPY) Sun, 15 Jan 2023
Euro / Japanese Yen (EURJPY) Sun, 8 Jan 2023
Euro / Japanese Yen (EURJPY) Sat, 31 Dec 2022