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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 682 pip
Closed trade(s): 192 pip Profit
Open trade(s): 490 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...

Closed Profit:
TP1 @ 105.20 touched at 2020.09.23 with 56 pip Profit.
TP2 @ 106.00 touched at 2020.10.07 with 136 pip Profit.
56 + 136 = 192 pip

Open Profit:
Profit for one trade is 105.62(current price) - 104.64(open price) = 98 pip
5 trade(s) still open, therefore total profit for open trade(s) is 98 x 5 = 490 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.
DateOctober 10, 2020 - 21:39
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 104.000, beginning of uptrend is expected.
  • We make sure when the resistance at 106.000 breaks.
  • If the support at 104.000 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 106.15 on 10/07/2020, so more losses to support(s) 105.20, 104.15 and minimum to Major Support (104.00) 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 50.

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 Sun, 14 Apr 2024
US Dollar / Japanese Yen (USDJPY) Sat, 6 Apr 2024
US Dollar / Japanese Yen (USDJPY) Sat, 30 Mar 2024
US Dollar / Japanese Yen (USDJPY) Sat, 23 Mar 2024
US Dollar / Japanese Yen (USDJPY) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on USDJPY.