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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trade Setup

#EURJPY
Total Profit: 2238 pip
Closed trade(s): 766 pip Profit
Open trade(s): 1472 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 134.06 (day close price) based on 'Peak' at 2018.02.07 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 133.25 touched at 2018.02.08 with 82 pip Profit.
TP2 @ 131.65 touched at 2018.02.14 with 242 pip Profit.
TP3 @ 129.65 touched at 2018.03.02 with 442 pip Profit.
82 + 242 + 442 = 766 pip

Open Profit:
Profit for one trade is 134.06(open price) - 132.23(current price) = 184 pip
8 trade(s) still open, therefore total profit for open trade(s) is 184 x 8 = 1472 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.

DateApril 21, 2018 - 21:52
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 134.400 would begin in Midterm.

Technical analysis:

  • A peak is formed in daily chart at 133.10 on 04/19/2018, so more losses to support(s) 131.65, 129.65, 128.20 and more depths 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 54.

Take Profits:

  1. 133.25
  2. 131.65
  3. 129.65
  4. 128.20
  5. 126.80
  6. 124.10
  7. 122.30
  8. 118.45
  9. 114.85
  10. 111.25
Click on the level to view price action history.

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