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

#NZDJPY
Total Profit: 3333 pip
Closed trade(s): 2895 pip Profit
Open trade(s): 438 pip Profit

Trade Setup:
We opened 9 SELL trades @ 95.671 based on ' Peak' entry method at 2024-06-07.

Closed Profit:
TP1 @ 95.363 touched at 2024-07-17 with 31 pip Profit.
TP2 @ 94.467 touched at 2024-07-18 with 120 pip Profit.
TP3 @ 93.452 touched at 2024-07-23 with 222 pip Profit.
TP4 @ 92.350 touched at 2024-07-24 with 332 pip Profit.
TP5 @ 91.527 touched at 2024-07-24 with 414 pip Profit.
TP6 @ 90.759 touched at 2024-07-25 with 491 pip Profit.
TP7 @ 89.933 touched at 2024-07-25 with 574 pip Profit.
TP8 @ 88.555 touched at 2024-08-01 with 711 pip Profit.
31 + 120 + 222 + 332 + 414 + 491 + 574 + 711 = 2895 pip

Open Profit:
Profit for one SELL trade is 95.671(open price) - 91.288(current price) = 438 pip
1 trade(s) still open, therefore total profit for open trade(s) is 438 x 1 = 438 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.
  • If the Midterm level 95.388 is broken, we will close open trades.
DateNovember 3, 2024 - 10:58
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 95.388, resumption of downtrend is expected.
  • We make sure when the support at 86.250 breaks.
  • If the resistance at 95.388 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 95.388 is broken.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • A peak is formed in daily chart at 92.265 on 09/27/2024, so more losses to support(s) 89.933, 89.149, 87.771 and minimum to Major Support (86.250) 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 54.

Take Profits:

  1. 89.933
  2. 89.149
  3. 87.771
  4. 86.250
  5. 84.496
  6. 83.041
Click on the level to view price action history.
Symbol Released Current Forecast
New Zealand Dollar / Japanese Yen (NZDJPY) Sun, 24 Nov 2024
New Zealand Dollar / Japanese Yen (NZDJPY) Sun, 17 Nov 2024
New Zealand Dollar / Japanese Yen (NZDJPY) Sun, 10 Nov 2024
New Zealand Dollar / Japanese Yen (NZDJPY) free Sun, 3 Nov 2024
New Zealand Dollar / Japanese Yen (NZDJPY) free Sun, 27 Oct 2024
History
Daily-Trading-Opportunities on NZDJPY.