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Weekly forecast Singapore Dollar / Japanese Yen technical chart
Symbol SGDJPY
Trade Setup

#SGDJPY
Total Profit: 234 pip
Closed trade(s): 0 pip Profit
Open trade(s): 234 pip Profit

Trade Setup:
We opened 13 SELL trade(s) @ 85.50 (day close price) based on 'Peak' at 2022.02.11.

Open Profit:
Profit for one trade is 85.50(open price) - 85.32(current price) = 18 pip
13 trade(s) still open, therefore total profit for open trade(s) is 18 x 13 = 234 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.

DateFebruary 19, 2022 - 22:45
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 86.400, beginning of downtrend is expected.
  • We make sure when the support at 81.900 breaks.
  • If the resistance at 86.400 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 85.649 on 2022-01-04 and the peak at 86.407 on 2022-02-10, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 86.41 on 02/10/2022, so more losses to support(s) 85.13, 84.74, 84.24 and minimum to Major Support (81.90) 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 52.

Take Profits:

  1. 85.13
  2. 84.74
  3. 84.24
  4. 83.70
  5. 82.74
  6. 81.90
  7. 80.90
  8. 80.40
  9. 79.85
  10. 78.60
  11. 76.20
  12. 74.25
Click on the level to view price action history.