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Weekly forecast Singapore Dollar / Japanese Yen technical chart

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Trade Setup
Total Profit: 248 pip
Closed trade(s): 0 pip Profit
Open trade(s): 248 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 76.11(current price) - 75.80(open price) = 31 pip
8 trade(s) still open, therefore total profit for open trade(s) is 31 x 8 = 248 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 30, 2020 - 23:05
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 72.05, beginning of uptrend is expected.
  • We make sure when the resistance at 78.60 breaks.
  • If the support at 72.05 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 75.22 on 05/25/2020, so more gains to resistance(s) 76.65, 77.10 and maximum to Major Resistance (78.60) 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 57.

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.