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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

Download MT4 template file

Trade Setup

#GBPJPY
Total Profit: 1765 pip
Closed trade(s): 185 pip Profit
Open trade(s): 1580 pip Profit

Trade Setup:
We opened 12 SELL trade(s) @ 152.25 (day close price) based on 'Peak and Shooting Star' at 2018.04.18 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 151.95 touched at 2018.04.19 with 30 pip Profit.
TP2 @ 150.70 touched at 2018.04.20 with 155 pip Profit.
30 + 155 = 185 pip

Open Profit:
Profit for one trade is 152.25(open price) - 150.67(current price) = 158 pip
10 trade(s) still open, therefore total profit for open trade(s) is 158 x 10 = 1580 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.
DateApril 22, 2018 - 16:58
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 156.600 would begin in Midterm.

Technical analysis:

  • A peak is formed in daily chart at 153.85 on 04/13/2018, so more losses to support(s) 148.45, 146.95, 145.30 and more depths 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 50.

Take Profits:

  1. 151.95
  2. 150.70
  3. 148.45
  4. 146.95
  5. 145.30
  6. 143.55
  7. 139.45
  8. 135.60
  9. 129.60
  10. 125.50
  11. 116.80
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.