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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY
Trade Setup

#USDJPY
Total Profit: 5815 pip
Closed trade(s): 1405 pip Profit
Open trade(s): 4410 pip Profit

Trade Setup:
We opened 10 SELL trades @ 146.666 based on 'Peak' entry method at 2022-11-04.

Closed Profit:
TP1 @ 145.094 touched at 2022-11-10 with 158 pip Profit.
TP2 @ 141.526 touched at 2022-11-10 with 514 pip Profit.
TP3 @ 139.340 touched at 2022-11-11 with 733 pip Profit.
158 + 514 + 733 = 1405 pip

Open Profit:
Profit for one SELL trade is 146.666(open price) - 140.365(current price) = 630 pip
7 trade(s) still open, therefore total profit for open trade(s) is 630 x 7 = 4410 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.

DateNovember 19, 2022 - 23:19
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 152.000, beginning of downtrend is expected.
  • We make sure when the support at 137.355 breaks.
  • If the resistance at 152.000 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 151.940 on 10/21/2022, so more losses to support(s) 139.340 and minimum to Major Support (137.355) 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 36.

Take Profits:

  1. 145.094
  2. 141.728
  3. 139.340
  4. 137.355
  5. 134.672
  6. 131.500
  7. 129.442
  8. 126.409
  9. 121.271
Click on the level to view price action history.

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