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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 114 pip
Closed trade(s): 65 pip Profit
Open trade(s): 49 pip Profit

Trade Setup:
We opened 8 BUY trade(s) @ 105.35 (day close price) based on 'Valleyr' at 2020.11.09 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 106.00 touched at 2021.02.16 with 65 pip Profit.

Open Profit:
Profit for one trade is 105.42(current price) - 105.35(open price) = 7 pip
7 trade(s) still open, therefore total profit for open trade(s) is 7 x 7 = 49 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.

DateFebruary 21, 2021 - 14:02
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 102.60 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • A peak is formed in daily chart at 106.20 on 02/17/2021, so more losses to support(s) 104.45, 104.15, 103.15 and minimum to Major Support (102.60) 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 59.

Take Profits:

  1. 106.00
  2. 106.95
  3. 107.90
  4. 108.85
  5. 110.20
  6. 112.25
  7. 114.55
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Japanese Yen (USDJPY) Sun, 4 Apr 2021
US Dollar / Japanese Yen (USDJPY) free Sat, 27 Mar 2021
US Dollar / Japanese Yen (USDJPY) Sun, 21 Mar 2021
US Dollar / Japanese Yen (USDJPY) Sun, 14 Mar 2021
US Dollar / Japanese Yen (USDJPY) free Sun, 7 Mar 2021