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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 2030 pip
Closed trade(s): 399 pip Profit
Open trade(s): 1631 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 111.61 (day close price) 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) - 109.28(current price) = 233 pip
7 trade(s) still open, therefore total profit for open trade(s) is 233 x 7 = 1631 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 25, 2019 - 20:56
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 110.950, beginning of downtrend is expected.
  • We make sure when the support at 108.750 breaks.
  • If the resistance at 110.950 is broken, the short-term forecast -beginning of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 110.950 is broken.

Technical analysis:

  • While the RSI resistance #1 at 48 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 110.67 on 05/21/2019, so more losses minimum to Major Support (108.75) 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 34.

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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