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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup

#USDJPY
Total Profit: 2665 pip
Closed trade(s): 931 pip Profit
Open trade(s): 1734 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.
TP4 @ 110.95 touched at 2018.05.18 with 434 pip Profit.
69 + 154 + 274 + 434 = 931 pip

Open Profit:
Profit for one trade is 109.50(current price) - 106.61(open price) = 289 pip
6 trade(s) still open, therefore total profit for open trade(s) is 289 x 6 = 1734 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.

DateJune 3, 2018 - 16:06
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 an uptrend wave above 107.300 would begin in Midterm.
  • We will close our open trades, if the Midterm level 107.300 is broken.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of resumption of uptrend is decreased.
  • The RSI bounced from the support #2 at 45 and it prevented price from more losses.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

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.

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