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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trade Setup
#USDJPY
Total Profit: 2665 pip
Closed trade(s): 685 pip Profit
Open trade(s): 1980 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.
TP5 @ 108.75 touched at 2019.05.31 with 286 pip Profit.
16 + 66 + 126 + 191 + 286 = 685 pip

Open Profit:
Profit for one trade is 111.61(open price) - 108.31(current price) = 330 pip
6 trade(s) still open, therefore total profit for open trade(s) is 330 x 6 = 1980 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 109.700 is broken, we will close open trades.
  • Price may also reach 109.700, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to Trend Hunter Strategy, and depends on personal strategies.

DateJune 1, 2019 - 20:30
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 109.700 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
  • We will close our open trades, if the Midterm level 109.700 is broken.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 110.67 on 05/21/2019, so more losses to support(s) 108.15, 106.60, 104.65 and more depths 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 29.

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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