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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY

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Trade Setup

#SGDJPY
Total Profit: 3648 pip
Closed trade(s): 1530 pip Profit
Open trade(s): 2118 pip Profit

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

Closed Profit:
TP1 @ 76.65 touched at 2020.06.02 with 85 pip Profit.
TP2 @ 77.10 touched at 2020.06.02 with 130 pip Profit.
TP3 @ 78.60 touched at 2020.06.05 with 280 pip Profit.
TP4 @ 80.15 touched at 2021.02.24 with 435 pip Profit.
TP5 @ 81.80 touched at 2021.03.30 with 600 pip Profit.
85 + 130 + 280 + 435 + 600 = 1530 pip

Open Profit:
Profit for one trade is 82.86(current price) - 75.80(open price) = 706 pip
3 trade(s) still open, therefore total profit for open trade(s) is 706 x 3 = 2118 pip
 

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (74.90 to 74.25). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (74.90)
    • Support on 08/26/2019
    • Resistance on 03/12/2020
    • Support on 03/30/2020
    • Support on 04/03/2020
    • Support on 04/21/2020
    • Support on 05/08/2020
    • Support on 05/14/2020
  • Ending of entry zone (74.25)
    • Support on 03/12/2020
    • Support on 03/16/2020
    • Support on 03/17/2020
    • Support on 03/18/2020
    • Support on 04/01/2020
    • Support on 04/02/2020
DateMay 30, 2021 - 17:58
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

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

Technical analysis:

  • The ascending triangle taking shape.
  • While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 81.42 on 05/21/2021, so more gains to resistance(s) 83.05, 85.25, 86.30 and more heights 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 73.

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) 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.