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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

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Trade Setup

#GBPJPY
Total Profit: 10608 pip
Closed trade(s): 2360 pip Profit
Open trade(s): 8248 pip Profit
_______________________________________________
Trade Setup:
We opened 12 BUY trade(s) @ 140.80 (day close price) based on 'Valley' at 2017.08.25 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 142.20 touched at 2017.08.30 with 140 pip Profit.
TP2 @ 145.30 touched at 2017.09.12 with 450 pip Profit.
TP3 @ 147.70 touched at 2017.09.14 with 690 pip Profit.
TP4 @ 151.60 touched at 2017.09.20 with 1080 pip Profit.
140 + 450 + 690 + 1080 = 2360 pip

Open Profit:
Profit for one trade is 151.11(current price) - 140.80(open price) = 1031 pip
8 trade(s) still open, therefore total profit for open trade(s) is 1031 x 8 = 8248 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (139.30 to 135.55). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (139.30)
    • Support on 08/24/2017
    • Trough on 08/24/2017
    • Support on 08/23/2017
    • Support on 06/15/2017
    • Support on 06/14/2017
    • Support on 06/09/2017
    • Resistance on 04/19/2017
    • Resistance on 04/18/2017
    • Resistance on 03/28/2017
    • Resistance on 03/27/2017
    • Support on 03/17/2017
    • Support on 03/16/2017
    • Support on 03/15/2017
    • Support on 03/14/2017
    • Support on 03/13/2017
    • Support on 03/10/2017
    • Support on 03/06/2017
    • Support on 02/28/2017
    • Support on 02/27/2017
    • Support on 02/24/2017
    • Trough on 11/30/2009
    • Trough on 11/27/2009
  • Ending of entry zone (135.55)
    • Support on 04/17/2017
DateSeptember 24, 2017 - 10:42
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • The current trend is uptrend and the forecast is continuation of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 141.20 on 09/05/2017, so more gains to resistance(s) 151.60, 154.70, 158.40 and more heights 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 71.

Take Profits:

  1. 142.20
  2. 145.30
  3. 147.70
  4. 151.60
  5. 154.70
  6. 158.40
  7. 162.45
  8. 170.00
  9. 174.80
  10. 180.40
  11. 195.85
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.