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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

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Trade Setup

#GBPJPY
Total Profit: -3717 pip
Closed trade(s): 0 pip Profit
Open trade(s): -3717 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 150.62 (day close price) based on ' Shooting Star' at 2021.04.20 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Open Profit:
Profit for one trade is 150.62(open price) - 154.75(current price) = -413 pip
9 trade(s) still open, therefore total profit for open trade(s) is -413 x 9 = -3717 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.
DateJune 12, 2021 - 12:24
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 156.600, beginning of downtrend is expected.
  • We make sure when the support at 153.350 breaks.
  • If the resistance at 156.600 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 156.05 on 05/27/2021, so more losses minimum to Major Support (153.35) 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 56.

Take Profits:

  1. 148.50
  2. 146.50
  3. 145.00
  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, 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
British Pound / Japanese Yen (GBPJPY) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPJPY.