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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

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Trade Setup

#GBPJPY
Total Profit: 10269 pip
Closed trade(s): 5061 pip Profit
Open trade(s): 5208 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 133.79 (day close price) based on 'Valley' at 2020.06.30 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 135.65 touched at 2020.07.09 with 186 pip Profit.
TP2 @ 137.65 touched at 2020.07.31 with 386 pip Profit.
TP3 @ 140.10 touched at 2020.08.13 with 631 pip Profit.
TP4 @ 144.95 touched at 2021.02.10 with 1116 pip Profit.
TP5 @ 146.50 touched at 2021.02.15 with 1271 pip Profit.
TP6 @ 148.50 touched at 2021.02.23 with 1471 pip Profit.
186 + 386 + 631 + 1116 + 1271 + 1471 = 5061 pip

Open Profit:
Profit for one trade is 151.15(current price) - 133.79(open price) = 1736 pip
3 trade(s) still open, therefore total profit for open trade(s) is 1736 x 3 = 5208 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMarch 27, 2021 - 19:43
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 142.200, continuation of uptrend is expected.
  • We make sure when the resistance at 152.550 breaks.
  • If the support at 142.200 is broken, the short-term forecast -continuation of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 142.200 is broken.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of continuation of uptrend is decreased.
  • A trough is formed in daily chart at 148.50 on 03/24/2021, so more gains maximum to Major Resistance (152.55) 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 61.

Supports and Resistances:

  1. 156.60
  2. 153.75
  3. 148.50
  4. 146.50
  5. 144.95
  6. 140.10
  7. 137.65
  8. 135.65
  9. 133.05
  10. 123.85
Click on the level to view price action history.