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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY

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Trade Setup

#SGDJPY
Total Profit: 1021 pip
Closed trade(s): 506 pip Profit
Open trade(s): 515 pip Profit

Trade Setup:
We opened 9 SELL trade(s) @ 81.89 based on 'Shooting star' entry method at 2021.07.06.

Closed Profit:
TP1 @ 81.35 touched at 2021.07.08 with 54 pip Profit.
TP2 @ 80.90 touched at 2021.07.08 with 99 pip Profit.
TP3 @ 80.40 touched at 2021.07.19 with 149 pip Profit.
TP4 @ 79.85 touched at 2021.07.20 with 204 pip Profit.
54 + 99 + 149 + 204 = 506 pip

Open Profit:
Profit for one trade is 81.89(open price) - 80.86(current price) = 103 pip
5 trade(s) still open, therefore total profit for open trade(s) is 103 x 5 = 515 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.

DateJuly 31, 2021 - 10:53
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 81.900 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • A peak is formed in daily chart at 81.25 on 07/23/2021, so more losses to support(s) 80.40, 79.85, 79.15 and more depths 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 44.

Take Profits:

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