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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup
#CHFJPY
Total Profit: 399 pip
Closed trade(s): 49 pip Profit
Open trade(s): 350 pip Profit

Trade Setup:
We opened 8 SELL trade(s) @ 116.84 (day close price) based on 'Shooting star' at 2021.01.14 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/C...

Closed Profit:
TP1 @ 116.35 touched at 2021.01.18 with 49 pip Profit.

Open Profit:
Profit for one trade is 116.84(open price) - 116.33(current price) = 50 pip
7 trade(s) still open, therefore total profit for open trade(s) is 50 x 7 = 350 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.
DateMarch 6, 2021 - 23:37
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 118.850, beginning of downtrend is expected.
  • We make sure when the support at 113.650 breaks.
  • If the resistance at 118.850 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 117.755 on 2020-12-10 and the peak at 118.835 on 2021-02-16, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 117.80 on 02/26/2021, so more losses to support(s) 115.30, 114.60 and minimum to Major Support (113.65) 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 43.

Take Profits:

  1. 116.35
  2. 115.30
  3. 114.60
  4. 113.65
  5. 111.95
  6. 108.65
  7. 106.75
Click on the level to view price action history.
Symbol Released Current Forecast
Swiss Franc / Japanese Yen (CHFJPY) Sun, 14 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 14 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 7 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 31 Mar 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 24 Mar 2024
History
Daily-Trading-Opportunities on CHFJPY.