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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

Download MT4 template file

Trade Setup
#GBPJPY
Total Profit: 8263 pip
Closed trade(s): 5743 pip Profit
Open trade(s): 2520 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 130.26 based on 'Valley' at 2019.09.04 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 131.80 touched at 2019.09.05 with 154 pip Profit.
TP2 @ 133.85 touched at 2019.09.13 with 359 pip Profit.
TP3 @ 135.65 touched at 2019.09.18 with 539 pip Profit.
TP4 @ 137.65 touched at 2019.10.11 with 739 pip Profit.
TP5 @ 140.10 touched at 2019.10.17 with 984 pip Profit.
TP6 @ 143.70 touched at 2019.12.12 with 1344 pip Profit.
TP7 @ 146.50 touched at 2019.12.13 with 1624 pip Profit.
154 + 359 + 539 + 739 + 984 + 1344 + 1624 = 5743 pip

Open Profit:
Profit for one trade is 142.86(current price) - 130.26(open price) = 1260 pip
2 trade(s) still open, therefore total profit for open trade(s) is 1260 x 2 = 2520 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 140.80 is broken, we will close open trades.

DateJanuary 25, 2020 - 21:31
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 144.35, beginning of downtrend is expected.
  • We make sure when the support at 140.80 breaks.
  • If the resistance at 144.35 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 140.80 is broken.

Technical analysis:

  • A peak is formed in daily chart at 144.60 on 01/22/2020, so more losses minimum to Major Support (140.80) 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 49.

Take Profits:

  1. 131.80
  2. 133.85
  3. 135.65
  4. 137.65
  5. 140.10
  6. 143.70
  7. 146.50
  8. 149.50
Click on the level to view price action history.