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

#USDJPY
Total Profit: 11420 pip
Closed trade(s): 6776 pip Profit
Open trade(s): 4644 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.
TP7 @ 129.442 touched at 2023-01-12 with 1723 pip Profit.
158 + 514 + 733 + 931 + 1200 + 1517 + 1723 = 6776 pip

Open Profit:
Profit for one SELL trade is 146.666(open price) - 131.185(current price) = 1548 pip
3 trade(s) still open, therefore total profit for open trade(s) is 1548 x 3 = 4644 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 131.500 is broken, we will close open trades.

DateFebruary 5, 2023 - 13:44
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 126.409, beginning of uptrend is expected.
  • We make sure when the resistance at 131.500 breaks.
  • If the support at 126.409 is broken, the short-term forecast -beginning of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 131.500 is broken.

Technical analysis:

  • The RSI resistance #1 at 47 is broken, so the probability of beginning of uptrend is increased.
  • A trough is formed in daily chart at 128.070 on 02/02/2023, so more gains maximum to Major Resistance (131.500) 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 51.

Take Profits:

  1. 145.094
  2. 141.696
  3. 139.340
  4. 137.355
  5. 134.662
  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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