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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 2939 pip
Closed trade(s): 2228 pip Profit
Open trade(s): 711 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 111.61 based on 'Two-day reversal candle (Shooting Star)' at 2019.04.25 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 111.45 touched at 2019.04.26 with 16 pip Profit.
TP2 @ 110.95 touched at 2019.05.06 with 66 pip Profit.
TP3 @ 110.35 touched at 2019.05.06 with 126 pip Profit.
TP4 @ 109.70 touched at 2019.05.09 with 191 pip Profit.
TP5 @ 108.75 touched at 2019.05.31 with 286 pip Profit.
TP6 @ 108.15 touched at 2019.06.03 with 346 pip Profit.
TP7 @ 106.60 touched at 2019.08.02 with 501 pip Profit.
TP8 @ 104.65 touched at 2019.08.26 with 696 pip Profit.
16 + 66 + 126 + 191 + 286 + 346 + 501 + 696 = 2228 pip

Open Profit:
Profit for one trade is 111.61(open price) - 109.24(current price) = 237 pip
3 trade(s) still open, therefore total profit for open trade(s) is 237 x 3 = 711 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.
  • If the Midterm level 109.70 is broken, we will close open trades.

DateNovember 9, 2019 - 18:16
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 106.60, beginning of uptrend is expected.
  • We make sure when the resistance at 109.70 breaks.
  • If the support at 106.60 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 109.70 is broken.

Technical analysis:

  • The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
  • A peak is formed in daily chart at 109.30 on 10/30/2019, so more losses to support(s) 108.75, 108.15 and minimum to Major Support (106.60) 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 62.

Take Profits:

  1. 111.45
  2. 110.95
  3. 110.35
  4. 109.70
  5. 108.75
  6. 108.15
  7. 106.60
  8. 104.65
  9. 102.75
  10. 100.00
Click on the level to view price action history.

Symbol Released Current Forecast
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