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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY

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Trade Setup
#SGDJPY
Total Profit: -792 pip
Closed trade(s): 0 pip Profit
Open trade(s): -792 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 75.80 (day close price) based on 'Valley' at 2020.05.11.

Open Profit:
Profit for one trade is 74.81(current price) - 75.80(open price) = -99 pip
8 trade(s) still open, therefore total profit for open trade(s) is -99 x 8 = -792 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.
DateMay 16, 2020 - 21:00
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 72.050, beginning of uptrend is expected.
  • We make sure when the resistance at 78.600 breaks.
  • If the support at 72.050 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 53 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 75.90 on 05/11/2020, so more losses to support(s) 74.25, 73.05 and minimum to Major Support (72.05) 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 43.

Take Profits:

  1. 76.65
  2. 77.10
  3. 78.60
  4. 80.15
  5. 81.80
  6. 83.05
  7. 85.25
Click on the level to view price action history.
Symbol Released Current Forecast
Singapore Dollar / Japanese Yen (SGDJPY) new Sun, 14 Apr 2024
Singapore Dollar / Japanese Yen (SGDJPY) Sun, 7 Apr 2024
Singapore Dollar / Japanese Yen (SGDJPY) Sun, 31 Mar 2024
Singapore Dollar / Japanese Yen (SGDJPY) Sun, 24 Mar 2024
Singapore Dollar / Japanese Yen (SGDJPY) Sun, 24 Mar 2024
History
Daily-Trading-Opportunities on SGDJPY.