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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 161 pip
Closed trade(s): 0 pip Profit
Open trade(s): 161 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 107.60 (day close price) based on 'Valley' at 2020.05.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Open Profit:
Profit for one trade is 107.83(current price) - 107.60(open price) = 23 pip
7 trade(s) still open, therefore total profit for open trade(s) is 23 x 7 = 161 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.

DateMay 30, 2020 - 23:07
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 104.500, beginning of uptrend is expected.
  • We make sure when the resistance at 110.100 breaks.
  • If the support at 104.500 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 105.99 on 05/07/2020, so more gains to resistance(s) 108.30, 109.40 and maximum to Major Resistance (110.10) 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 56.

Take Profits:

  1. 108.30
  2. 109.40
  3. 110.10
  4. 112.30
  5. 114.55
  6. 118.60
Click on the level to view price action history.

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