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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup

#USDJPY
Total Profit: 4185 pip
Closed trade(s): 1475 pip Profit
Open trade(s): 2710 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.
TP5 @ 112.05 touched at 2018.07.11 with 544 pip Profit.
69 + 154 + 274 + 434 + 544 = 1475 pip

Open Profit:
Profit for one trade is 112.03(current price) - 106.61(open price) = 542 pip
5 trade(s) still open, therefore total profit for open trade(s) is 542 x 5 = 2710 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 109.900 is broken, we will close open trades.
DateSeptember 16, 2018 - 20:31
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 109.900 would begin in Midterm.
  • We will close our open trades, if the Midterm level 109.900 is broken.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • The RSI bounced from the resistance #1 at 74 and it prevented price from more gains.
  • The RSI resistance #2 at 58 is broken, so the probability of resumption of uptrend is increased.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 60.

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
US Dollar / Japanese Yen (USDJPY) Sat, 6 Apr 2024
US Dollar / Japanese Yen (USDJPY) Sat, 30 Mar 2024
US Dollar / Japanese Yen (USDJPY) Sat, 23 Mar 2024
US Dollar / Japanese Yen (USDJPY) free Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on USDJPY.