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

#GBPJPY
Total Profit: 13850 pip
Closed trade(s): 12409 pip Profit
Open trade(s): 1441 pip Profit

Trade Setup:
We opened 10 SELL trades @ 205.087 based on 'Shooting Star D2' entry method at 2024-07-12.

Closed Profit:
TP1 @ 203.000 touched at 2024-07-18 with 209 pip Profit.
TP2 @ 200.479 touched at 2024-07-24 with 461 pip Profit.
TP3 @ 197.172 touched at 2024-07-25 with 792 pip Profit.
TP4 @ 193.510 touched at 2024-07-31 with 1158 pip Profit.
TP5 @ 191.335 touched at 2024-08-01 with 1375 pip Profit.
TP6 @ 187.500 touched at 2024-08-02 with 1759 pip Profit.
TP7 @ 185.388 touched at 2024-08-05 with 1970 pip Profit.
TP8 @ 182.782 touched at 2024-08-05 with 2231 pip Profit.
TP9 @ 180.546 touched at 2024-08-05 with 2454 pip Profit.
209 + 461 + 792 + 1158 + 1375 + 1759 + 1970 + 2231 + 2454 = 12409 pip

Open Profit:
Profit for one SELL trade is 205.087(open price) - 190.679(current price) = 1441 pip
1 trade(s) still open, therefore total profit for open trade(s) is 1441 x 1 = 1441 pip

#GBPJPY
Total Profit: 3768 pip
Closed trade(s): 828 pip Profit
Open trade(s): 2940 pip Profit

Trade Setup:
We opened 8 SELL trades @ 196.556 based on 'Shooting Star' entry method at 2024-11-20, signaled by DTO:
https://www.forecastcity.com/en/forecasts/Forex/daily-trading-opportunit...

Closed Profit:
TP1 @ 196.006 touched at 2024-11-21 with 55 pip Profit.
TP2 @ 193.510 touched at 2024-11-22 with 305 pip Profit.
TP3 @ 191.884 touched at 2024-11-27 with 468 pip Profit.
55 + 305 + 468 = 828 pip

Open Profit:
Profit for one SELL trade is 196.556(open price) - 190.679(current price) = 588 pip
5 trade(s) still open, therefore total profit for open trade(s) is 588 x 5 = 2940 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.
DateDecember 1, 2024 - 18:43
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 199.790, resumption of downtrend is expected.
  • We make sure when the support at 182.782 breaks.
  • If the resistance at 199.790 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • The RSI support #1 at 50 is broken, so the probability of resumption of downtrend is increased.
  • A peak is formed in daily chart at 199.795 on 10/30/2024, so more losses to support(s) 189.477, 186.231 and minimum to Major Support (182.782) 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 34.

Take Profits:

  1. 196.006
  2. 193.510
  3. 191.884
  4. 189.477
  5. 186.231
  6. 182.782
  7. 178.409
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Japanese Yen (GBPJPY) free Fri, 10 Jan 2025
British Pound / Japanese Yen (GBPJPY) Sat, 4 Jan 2025
British Pound / Japanese Yen (GBPJPY) Sat, 28 Dec 2024
British Pound / Japanese Yen (GBPJPY) Sun, 22 Dec 2024
British Pound / Japanese Yen (GBPJPY) free Sat, 14 Dec 2024
History
Daily-Trading-Opportunities on GBPJPY.