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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY

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Trade Setup

#SGDJPY
Total Profit: 3537 pip
Closed trade(s): 1530 pip Profit
Open trade(s): 2007 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 82.49(current price) - 75.80(open price) = 669 pip
3 trade(s) still open, therefore total profit for open trade(s) is 669 x 3 = 2007 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.
  • If the Midterm level 82.30 is broken, we will close open trades.

DateJune 7, 2021 - 00:10
Currentuptrend
Forecastcontinuation of uptrend
Last weekBearish

Midterm forecast:

  • 82.30 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 82.30 is broken.

Technical analysis:

  • The ascending triangle taking shape.
  • While the RSI support #1 at 48 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 60.

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.