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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 35 pip
Closed trade(s): 0 pip Profit
Open trade(s): 35 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 104.64 (day close price) based on 'Hammer' at 2020.09.21 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Open Profit:
Profit for one trade is 104.69(current price) - 104.64(open price) = 5 pip
7 trade(s) still open, therefore total profit for open trade(s) is 5 x 7 = 35 pip

#USDJPY
Total Profit: -1154 pip
Closed trade(s): 52 pip Profit
Open trade(s): -1206 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 105.37(current price) - 107.38(open price) = -201 pip
6 trade(s) still open, therefore total profit for open trade(s) is -201 x 6 = -1206 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.

DateSeptember 21, 2020 - 22:17
Currentrange bound
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 104.00, beginning of uptrend is expected.
  • We make sure when the resistance at 110.30 breaks.
  • If the support at 104.00 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 106.95 on 08/28/2020, so more losses to support(s) 104.15 and minimum to Major Support (104.00) 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 35.

Take Profits:

  1. 105.20
  2. 106.00
  3. 106.95
  4. 107.90
  5. 110.30
  6. 112.25
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Japanese Yen (USDJPY) new Sat, 24 Oct 2020
US Dollar / Japanese Yen (USDJPY) Sat, 17 Oct 2020
US Dollar / Japanese Yen (USDJPY) Sat, 10 Oct 2020
US Dollar / Japanese Yen (USDJPY) free Sat, 3 Oct 2020
US Dollar / Japanese Yen (USDJPY) Sat, 26 Sep 2020