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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY
Trade Setup

#GBPJPY
Total Profit: 2942 pip
Closed trade(s): 1694 pip Profit
Open trade(s): 1248 pip Profit

Trade Setup:
We opened 7 SELL trades @ 165.957 based on 'Peak' entry method at 2022-12-16, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 165.726 touched at 2022-12-19 with 23 pip Profit.
TP2 @ 164.242 touched at 2022-12-20 with 172 pip Profit.
TP3 @ 162.500 touched at 2022-12-20 with 346 pip Profit.
TP4 @ 160.656 touched at 2022-12-20 with 530 pip Profit.
TP5 @ 159.725 touched at 2022-12-20 with 623 pip Profit.
23 + 172 + 346 + 530 + 623 = 1694 pip

Open Profit:
Profit for one SELL trade is 165.957(open price) - 159.72(current price) = 624 pip
2 trade(s) still open, therefore total profit for open trade(s) is 624 x 2 = 1248 pip

#GBPJPY
Total Profit: 2942 pip
Closed trade(s): 1694 pip Profit
Open trade(s): 1248 pip Profit

Trade Setup:
We opened 7 SELL trades @ 165.957 based on 'Peak' entry method at 2022-12-16, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 165.726 touched at 2022-12-19 with 23 pip Profit.
TP2 @ 164.242 touched at 2022-12-20 with 172 pip Profit.
TP3 @ 162.500 touched at 2022-12-20 with 346 pip Profit.
TP4 @ 160.656 touched at 2022-12-20 with 530 pip Profit.
TP5 @ 159.725 touched at 2022-12-20 with 623 pip Profit.
23 + 172 + 346 + 530 + 623 = 1694 pip

Open Profit:
Profit for one SELL trade is 165.957(open price) - 159.72(current price) = 624 pip
2 trade(s) still open, therefore total profit for open trade(s) is 624 x 2 = 1248 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.
  • If the Midterm level 165.726 is broken, we will close open trades.
DateJanuary 8, 2023 - 00:38
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 165.726, resumption of downtrend is expected.
  • We make sure when the support at 155.540 breaks.
  • If the resistance at 165.726 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 165.726 is broken.

Technical analysis:

  • A trough is formed in daily chart at 155.340 on 01/03/2023, so more gains to resistance(s) 159.725, 160.656, 162.500 and maximum to Major Resistance (165.726) 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 42.

Take Profits:

  1. 165.726
  2. 164.242
  3. 162.500
  4. 160.656
  5. 159.725
  6. 150.974
Click on the level to view price action history.
Symbol Released Current Forecast
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
British Pound / Japanese Yen (GBPJPY) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPJPY.