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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 124 pip
Closed trade(s): 52 pip Profit
Open trade(s): 72 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 107.38 based on 'Valley' at 2020.06.12 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 107.90 touched at 2020.06.30 with 52 pip Profit.

Open Profit:
Profit for one trade is 107.50(current price) - 107.38(open price) = 12 pip
6 trade(s) still open, therefore total profit for open trade(s) is 12 x 6 = 72 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.

DateJuly 4, 2020 - 22:14
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 106.000, beginning of uptrend is expected.
  • We make sure when the resistance at 110.300 breaks.
  • If the support at 106.000 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 36 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 106.05 on 06/23/2020, so more gains to resistance(s) 107.90, 109.40 and maximum to Major Resistance (110.30) 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 51.

Take Profits:

  1. 107.90
  2. 109.40
  3. 110.30
  4. 112.25
  5. 114.55
  6. 118.60
Click on the level to view price action history.

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