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Weekly forecast New Zealand Dollar / Japanese Yen technical chart
Symbol NZDJPY

Download MT4 template file

Trade Setup
#NZDJPY
Total Profit: 2238 pip
Closed trade(s): 402 pip Profit
Open trade(s): 1836 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 68.20 based on 'Valley' at 2019.10.10 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/N...

Closed Profit:
TP1 @ 68.80 touched at 2019.10.11 with 59 pip Profit.
TP2 @ 69.60 touched at 2019.10.21 with 139 pip Profit.
TP3 @ 70.25 touched at 2019.11.27 with 204 pip Profit.
59 + 139 + 204 = 402 pip

Open Profit:
Profit for one trade is 71.27(current price) - 68.20(open price) = 306 pip
6 trade(s) still open, therefore total profit for open trade(s) is 306 x 6 = 1836 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 69.60 is broken, we will close open trades.

DateDecember 7, 2019 - 20:37
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 69.60, beginning of uptrend is expected.
  • We make sure when the resistance at 72.55 breaks.
  • If the support at 69.60 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 69.60 is broken.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 68.85 on 11/14/2019, so more gains to resistance(s) 71.50 and maximum to Major Resistance (72.55) 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 72.

Take Profits:

  1. 68.80
  2. 69.60
  3. 70.25
  4. 71.50
  5. 72.55
  6. 73.55
  7. 75.70
  8. 78.45
Click on the level to view price action history.