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

#USDJPY
Total Profit: 10877 pip
Closed trade(s): 5053 pip Profit
Open trade(s): 5824 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.
TP4 @ 137.355 touched at 2022-12-01 with 931 pip Profit.
TP5 @ 134.672 touched at 2022-12-02 with 1200 pip Profit.
TP6 @ 131.500 touched at 2022-12-20 with 1517 pip Profit.
158 + 514 + 733 + 931 + 1200 + 1517 = 5053 pip

Open Profit:
Profit for one SELL trade is 146.666(open price) - 132.108(current price) = 1456 pip
4 trade(s) still open, therefore total profit for open trade(s) is 1456 x 4 = 5824 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.
  • If the Midterm level 141.696 is broken, we will close open trades.
DateJanuary 8, 2023 - 00:07
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 141.696, resumption of downtrend is expected.
  • We make sure when the support at 129.442 breaks.
  • If the resistance at 141.696 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 141.696 is broken.

Technical analysis:

  • While the RSI resistance #1 at 55 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 134.490 on 12/28/2022, so more losses to support(s) 131.500, 130.351 and minimum to Major Support (129.442) 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 41.

Take Profits:

  1. 145.094
  2. 141.696
  3. 139.340
  4. 137.355
  5. 134.600
  6. 131.500
  7. 129.442
  8. 126.409
  9. 121.271
Click on the level to view price action history.
Symbol Released Current Forecast
US Dollar / Japanese Yen (USDJPY) 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.