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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 2124 pip
Closed trade(s): 2124 pip Profit
Open trade(s): 0 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

Closed Profit:
Profit for one trade is 112.82(open price) - 111.84(current price) = 98 pip
4 trade(s) closed at market price as the major resistance is broken, therefore total profit will increase by 98 x 4 = 392 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (113.70 to 114.55). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (113.70)
    • Resistance on 11/13/2017
    • Resistance on 11/14/2017
    • Resistance on 12/11/2017
    • Resistance on 12/12/2017
    • Resistance on 12/21/2017
    • Resistance on 09/28/2018
    • Support on 10/04/2018
    • Resistance on 11/07/2018
    • Support on 11/09/2018
    • Support on 11/12/2018
    • Support on 11/13/2018
    • Resistance on 11/16/2018
    • Resistance on 11/26/2018
    • Resistance on 11/29/2018
    • Resistance on 11/30/2018
    • Resistance on 12/03/2018
    • Resistance on 12/04/2018
    • Peak on 12/13/2018
    • Resistance on 12/13/2018
    • Resistance on 12/14/2018
  • Ending of entry zone (114.55)
    • Resistance on 11/30/2016
    • Resistance on 12/01/2016
    • Resistance on 12/05/2016
    • Support on 01/11/2017
    • Support on 01/12/2017
    • Resistance on 01/23/2017
    • Resistance on 01/26/2017
    • Resistance on 02/14/2017
    • Resistance on 02/15/2017
    • Resistance on 03/02/2017
    • Resistance on 03/03/2017
    • Resistance on 03/08/2017
    • Resistance on 07/11/2017
    • Resistance on 11/06/2017
    • Resistance on 10/03/2018
    • Resistance on 10/04/2018
DateMarch 2, 2019 - 20:43
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 114.550, beginning of downtrend is expected.
  • We make sure when the support at 110.000 breaks.
  • If the resistance at 114.550 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • The RSI resistance #1 at 64 is broken, so the probability of beginning of downtrend is decreased.
  • The RSI bounced from the uptrend #2 and it prevented price from more losses.
  • A trough is formed in daily chart at 108.49 on 01/31/2019, so more gains to resistance(s) 112.45, 113.20, 113.70 and maximum to Major Resistance (114.55) 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 67.

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.