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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 1930 pip
Closed trade(s): 480 pip Profit
Open trade(s): 1450 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.
TP2 @ 106.95 touched at 2021.03.02 with 160 pip Profit.
TP3 @ 107.90 touched at 2021.03.04 with 255 pip Profit.
65 + 160 + 255 = 480 pip

Open Profit:
Profit for one trade is 108.25(current price) - 105.35(open price) = 290 pip
5 trade(s) still open, therefore total profit for open trade(s) is 290 x 5 = 1450 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.
  • If the Midterm level 106.95 is broken, we will close open trades.

DateMarch 7, 2021 - 00:03
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 106.95 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 106.95 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • A trough is formed in daily chart at 104.95 on 02/23/2021, so more gains to resistance(s) 108.85, 110.20, 112.25 and more heights 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 79.

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