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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup

#USDJPY
Total Profit: 2741 pip
Closed trade(s): 529 pip Profit
Open trade(s): 2212 pip Profit
_______________________________________________
Trade Setup:
We opened 10 BUY trade(s) @ 109.37 (day close price) based on 'Valley' at 2017.09.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 109.85 touched at 2017.09.12 with 48 pip Profit.
TP2 @ 110.95 touched at 2017.09.14 with 158 pip Profit.
TP3 @ 112.60 touched at 2017.09.21 with 323 pip Profit.
48 + 158 + 323 = 529 pip

Open Profit:
Profit for one trade is 112.53(current price) - 109.37(open price) = 316 pip
7 trade(s) still open, therefore total profit for open trade(s) is 316 x 7 = 2212 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (108.10 to 107.20). 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 (108.10)
    • Support on 09/11/2017
    • Support on 09/07/2017
    • 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
  • Ending of entry zone (107.20)
    • Resistance on 07/21/2016

DateSeptember 30, 2017 - 09:16
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 above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 62.

Take Profits:

  1. 109.85
  2. 110.95
  3. 112.60
  4. 114.35
  5. 115.50
  6. 118.60
  7. 121.50
  8. 123.50
  9. 125.80
Click on the level to view price action history.

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