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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 1505 pip
Closed trade(s): 399 pip Profit
Open trade(s): 1106 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 111.61 based on 'Two-day reversal candle (Shooting Star)' at 2019.04.25 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...

Closed Profit:
TP1 @ 111.45 touched at 2019.04.26 with 16 pip Profit.
TP2 @ 110.95 touched at 2019.05.06 with 66 pip Profit.
TP3 @ 110.35 touched at 2019.05.06 with 126 pip Profit.
TP4 @ 109.70 touched at 2019.05.09 with 191 pip Profit.
16 + 66 + 126 + 191 = 399 pip

Open Profit:
Profit for one trade is 111.61(open price) - 110.03(current price) = 158 pip
7 trade(s) still open, therefore total profit for open trade(s) is 158 x 7 = 1106 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 110.950 is broken, we will close open trades.

DateMay 18, 2019 - 21:58
Currentrange bound
Forecastbeginning 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 110.950 would begin in Midterm.
  • We will close our open trades, if the Midterm level 110.950 is broken.

Technical analysis:

  • A trough is formed in daily chart at 109.02 on 05/13/2019, so more gains to resistance(s) 110.35 and maximum to Major Resistance (110.95) 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 40.

Take Profits:

  1. 111.45
  2. 110.95
  3. 110.35
  4. 109.70
  5. 108.75
  6. 108.15
  7. 106.60
  8. 104.65
  9. 102.75
  10. 100.00
Click on the level to view price action history.

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