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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 3068 pip
Closed trade(s): 1732 pip Profit
Open trade(s): 1336 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 112.82 based on 'Peak' at 2018.12.17 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 112.45 touched at 2018.12.18 with 37 pip Profit.
TP2 @ 111.80 touched at 2018.12.20 with 102 pip Profit.
TP3 @ 110.75 touched at 2018.12.24 with 207 pip Profit.
TP4 @ 109.60 touched at 2019.01.02 with 322 pip Profit.
TP5 @ 108.40 touched at 2019.01.03 with 442 pip Profit.
TP6 @ 106.60 touched at 2019.01.03 with 622 pip Profit.
37 + 102 + 207 + 322 + 442 + 622 = 1732 pip

Open Profit:
Profit for one trade is 112.82(open price) - 109.48(current price) = 334 pip
4 trade(s) still open, therefore total profit for open trade(s) is 334 x 4 = 1336 pip

Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 110.750 is broken, we will close open trades.
DateFebruary 2, 2019 - 18:16
Currentrange bound
Forecastcontinuation of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 110.750 would begin in Midterm.
  • We will close our open trades, if the Midterm level 110.750 is broken.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 108.49 on 01/31/2019, so more gains to resistance(s) 109.60 and maximum to Major Resistance (110.75) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 48.

Take Profits:

  1. 112.45
  2. 111.80
  3. 110.75
  4. 109.60
  5. 108.40
  6. 106.60
  7. 104.65
  8. 102.75
  9. 100.00
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.