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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

Download MT4 template file

Trade Setup

#GBPJPY
Total Profit: 10369 pip
Closed trade(s): 7017 pip Profit
Open trade(s): 3352 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 @ 146.45 touched at 2021.02.15 with 1266 pip Profit.
TP6 @ 148.50 touched at 2021.02.23 with 1471 pip Profit.
TP7 @ 153.40 touched at 2021.04.06 with 1961 pip Profit.
186 + 386 + 631 + 1116 + 1266 + 1471 + 1961 = 7017 pip

Open Profit:
Profit for one trade is 150.55(current price) - 133.79(open price) = 1676 pip
2 trade(s) still open, therefore total profit for open trade(s) is 1676 x 2 = 3352 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 142.200 is broken, we will close open trades.
DateApril 17, 2021 - 14:01
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 153.400, beginning of downtrend is expected.
  • We make sure when the support at 142.200 breaks.
  • If the resistance at 153.400 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 142.200 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 152.54 on 2021-03-18 and the peak at 153.4 on 2021-04-06, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 149.38 on 04/16/2021, so more gains to resistance(s) 151.90 and maximum to Major Resistance (153.40) 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 51.

Take Profits:

  1. 148.50
  2. 146.45
  3. 144.95
  4. 140.10
  5. 137.65
  6. 135.65
  7. 133.05
  8. 123.85
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Japanese Yen (GBPJPY) new Sun, 21 Apr 2024
British Pound / Japanese Yen (GBPJPY) Sun, 14 Apr 2024
British Pound / Japanese Yen (GBPJPY) Sat, 6 Apr 2024
British Pound / Japanese Yen (GBPJPY) Sat, 30 Mar 2024
British Pound / Japanese Yen (GBPJPY) Sat, 23 Mar 2024
History
Daily-Trading-Opportunities on GBPJPY.