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

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Trade Setup
#NZDJPY
Total Profit: 1607 pip
Closed trade(s): 875 pip Profit
Open trade(s): 732 pip Profit

Trade Setup:
We opened 9 BUY trade(s) @ 75.72 based on 'Valley' at 2019.04.12.

Closed Profit:
TP1 @ 76.20 touched at 2021.02.15 with 48 pip Profit.
TP2 @ 76.75 touched at 2021.02.19 with 103 pip Profit.
TP3 @ 77.40 touched at 2021.02.22 with 168 pip Profit.
TP4 @ 78.15 touched at 2021.02.24 with 243 pip Profit.
TP5 @ 78.85 touched at 2021.02.24 with 313 pip Profit.
48 + 103 + 168 + 243 + 313 = 875 pip

Open Profit:
Profit for one trade is 77.55(current price) - 75.72(open price) = 183 pip
4 trade(s) still open, therefore total profit for open trade(s) is 183 x 4 = 732 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.

DateMarch 6, 2021 - 21:52
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 73.350 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 79.20 on 02/25/2021, so more losses to support(s) 77.40, 76.75, 76.20 and minimum to Major Support (73.35) 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 61.

Take Profits:

  1. 76.20
  2. 76.75
  3. 77.40
  4. 78.15
  5. 78.85
  6. 80.05
  7. 81.55
  8. 83.35
Click on the level to view price action history.