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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup

#USDJPY
Total Profit: 2429 pip
Closed trade(s): 497 pip Profit
Open trade(s): 1932 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 106.61 (day close price) based on 'Two-day reversal candle (Hammer)' at 2018.04.03 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 107.30 touched at 2018.04.05 with 69 pip Profit.
TP2 @ 108.15 touched at 2018.04.23 with 154 pip Profit.
TP3 @ 109.35 touched at 2018.04.25 with 274 pip Profit.
69 + 154 + 274 = 497 pip

Open Profit:
Profit for one trade is 109.37(current price) - 106.61(open price) = 276 pip
7 trade(s) still open, therefore total profit for open trade(s) is 276 x 7 = 1932 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 107.300 is broken, we will close open trades.
DateMay 13, 2018 - 19:54
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 107.300 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 107.300 is broken.

Technical analysis:

  • The RSI bounced from the resistance #1 at 72 and it prevented price from more gains.
  • While the RSI support #2 at 45 is not broken, the probability of price decrease would be too low.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 61.

Take Profits:

  1. 107.30
  2. 108.15
  3. 109.35
  4. 110.95
  5. 112.05
  6. 113.45
  7. 114.35
  8. 115.50
  9. 118.60
Click on the level to view price action history.
Symbol Released Current Forecast
US Dollar / Japanese Yen (USDJPY) Sun, 14 Apr 2024
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US Dollar / Japanese Yen (USDJPY) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on USDJPY.