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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY

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Trade Setup

#SGDJPY
Total Profit: 213 pip
Closed trade(s): 15 pip Profit
Open trade(s): 198 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 81.95 (day close price) based on 'Peak' at 2021.06.17.

Closed Profit:
TP1 @ 81.80 touched at 2021.06.18 with 15 pip Profit.

Open Profit:
Profit for one trade is 81.95(open price) - 81.73(current price) = 22 pip
9 trade(s) still open, therefore total profit for open trade(s) is 22 x 9 = 198 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.

DateJune 20, 2021 - 16:55
Currentrange bound
Forecastbeginning of downtrend
Last weekBearish

Midterm forecast:

  • While the price is below the resistance 83.05, beginning of downtrend is expected.
  • We make sure when the support at 81.35 breaks.
  • If the resistance at 83.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 47 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 82.94 on 06/14/2021, so more losses minimum to Major Support (81.35) 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 40.

Take Profits:

  1. 81.80
  2. 81.35
  3. 80.90
  4. 80.40
  5. 79.85
  6. 78.60
  7. 76.20
  8. 74.25
  9. 72.05
Click on the level to view price action history.