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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (110.75 to 111.35). 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 (110.75)
    • Support on 05/21/2018
    • Support on 05/22/2018
    • Resistance on 06/13/2018
    • Resistance on 06/14/2018
    • Resistance on 06/15/2018
    • Resistance on 06/18/2018
    • Resistance on 06/21/2018
    • Resistance on 06/29/2018
    • Resistance on 07/05/2018
    • Resistance on 07/06/2018
    • Support on 07/11/2018
    • Support on 07/23/2018
    • Support on 07/25/2018
    • Support on 07/26/2018
    • Support on 07/27/2018
    • Support on 07/31/2018
    • Support on 08/09/2018
    • Support on 08/10/2018
    • Resistance on 08/13/2018
    • Resistance on 08/20/2018
    • Support on 08/31/2018
    • Support on 12/20/2018
    • Support on 12/27/2018
    • Resistance on 02/19/2019
    • Resistance on 02/22/2019
    • Support on 02/28/2019
    • Support on 03/08/2019
  • Ending of entry zone (111.35)
    • Resistance on 05/21/2018
    • Resistance on 07/10/2018
    • Support on 07/20/2018
    • Resistance on 08/14/2018
    • Resistance on 08/15/2018
    • Resistance on 08/23/2018
    • Resistance on 08/24/2018
    • Resistance on 08/27/2018
    • Resistance on 08/28/2018
    • Support on 10/26/2018
    • Resistance on 12/27/2018
    • Support on 03/01/2019
    • Support on 03/15/2019
    • Support on 03/18/2019
    • Support on 03/19/2019

DateMarch 23, 2019 - 21:59
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 112.450, beginning of downtrend is expected.
  • We make sure when the support at 108.150 breaks.
  • If the resistance at 112.450 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 support #1 at 53 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 111.90 on 03/15/2019, so more losses to support(s) 109.35, 108.70 and minimum to Major Support (108.15) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 37.

Take Profits:

  1. 110.75
  2. 110.00
  3. 109.35
  4. 108.70
  5. 108.15
  6. 106.60
  7. 104.65
  8. 102.75
  9. 100.00
Click on the level to view price action history.

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