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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup

#USDJPY
Total Profit: 1381 pip
Closed trade(s): 421 pip Profit
Open trade(s): 960 pip Profit
_______________________________________________
Trade Setup:
We opened 8 BUY trade(s) @ 110.92 (day close price) based on 'Valley' at 2017.06.15 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/USDJPY...

Closed Profit:
TP1 @ 111.70 touched at 2017.06.20 with 78 pip Profit.
TP2 @ 114.35 touched at 2017.07.11 with 343 pip Profit.
78 + 343 = 421 pip

Open Profit:
Profit for one trade is 112.52(current price) - 110.92(open price) = 160 pip
6 trade(s) still open, therefore total profit for open trade(s) is 160 x 6 = 960 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (110.20 to 108.10). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (110.20)
    • Resistance on 06/14/2017
    • Support on 06/05/2017
    • Support on 05/18/2017
    • Support on 04/07/2017
    • Support on 04/06/2017
    • Support on 04/04/2017
    • Support on 03/28/2017
    • Support on 03/27/2017
  • Ending of entry zone (108.10)
    • Support on 04/17/2017
    • Support on 11/15/2016
    • Resistance on 04/29/2016
    • Support on 04/18/2016
    • Resistance on 04/11/2016

DateJuly 22, 2017 - 16:23
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.

Technical analysis:

  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 45.

Take Profits:

  1. 111.70
  2. 114.35
  3. 115.50
  4. 118.60
  5. 121.50
  6. 123.50
  7. 125.80
Click on the level to view price action history.

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