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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

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Trade Setup

#GBPJPY
Total Profit: 12464 pip
Closed trade(s): 2360 pip Profit
Open trade(s): 10104 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 153.43(current price) - 140.80(open price) = 1263 pip
8 trade(s) still open, therefore total profit for open trade(s) is 1263 x 8 = 10104 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 147.050 is broken, we will close open trades.

DateJanuary 20, 2018 - 19:21
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 154.700, beginning of downtrend is expected.
  • We make sure when the support at 147.050 breaks.
  • If the resistance at 154.700 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 147.050 is broken.

Technical analysis:

  • A peak is formed in daily chart at 154.60 on 01/18/2018, so more losses to support(s) 151.60, 147.70, 145.30 and minimum to Trend Hunter Buy Zone (139.30 to 135.55) 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 58.

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.