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

#EURJPY
Total Profit: 335 pip
Closed trade(s): 335 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.
TP2 @ 141.533 touched at 2022-12-02 with 229 pip Profit.
6 other break-even trades closed at entry price, therefore no profit no loss.
106 + 229 = 335 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (147.052 to 148.400). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (147.052)
  • Ending of entry zone (148.400)

DateDecember 13, 2022 - 21:37
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 148.400, resumption of downtrend is expected.
  • We make sure when the support at 140.936 breaks.
  • If the resistance at 148.400 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 140.703 on 12/02/2022, so more gains to resistance(s) 145.760, 147.052 and maximum to Major Resistance (148.400) 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 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) Sat, 23 Mar 2024
Euro / Japanese Yen (EURJPY) Sun, 17 Mar 2024
Euro / Japanese Yen (EURJPY) Sat, 9 Mar 2024
Euro / Japanese Yen (EURJPY) Sat, 2 Mar 2024
Euro / Japanese Yen (EURJPY) Sun, 25 Feb 2024