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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

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Trade Setup

#GBPJPY
Total Profit: 4327 pip
Closed trade(s): 565 pip Profit
Open trade(s): 3762 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.
TP3 @ 148.45 touched at 2018.05.03 with 380 pip Profit.
30 + 155 + 380 = 565 pip

Open Profit:
Profit for one trade is 152.25(open price) - 148.07(current price) = 418 pip
9 trade(s) still open, therefore total profit for open trade(s) is 418 x 9 = 3762 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.
DateMay 13, 2018 - 18:47
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 trough is formed in daily chart at 147.05 on 05/08/2018, so more gains to resistance(s) 148.45, 150.70, 151.95 and maximum to Trend Hunter Sell Zone (152.80 to 156.60) 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 40.

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.