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Weekly forecast Euro / Japanese Yen technical chart
Symbol EURJPY

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Trade Setup
#EURJPY
Total Profit: 781 pip
Closed trade(s): 61 pip Profit
Open trade(s): 720 pip Profit

Trade Setup:
We opened 7 SELL trade(s) @ 126.61 (day close price) based on 'Shooting star' at 2021.01.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/E...

Closed Profit:
TP1 @ 126.00 touched at 2021.01.14 with 61 pip Profit.

Open Profit:
Profit for one trade is 126.61(open price) - 125.41(current price) = 120 pip
6 trade(s) still open, therefore total profit for open trade(s) is 120 x 6 = 720 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.

DateJanuary 16, 2021 - 19:17
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 127.500, beginning of downtrend is expected.
  • We make sure when the support at 121.600 breaks.
  • If the resistance at 127.500 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 127.50 on 01/07/2021, so more losses to support(s) 124.40, 122.85 and minimum to Major Support (121.60) 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 41.

Take Profits:

  1. 126.00
  2. 124.40
  3. 122.85
  4. 121.60
  5. 119.30
  6. 114.45
Click on the level to view price action history.

Symbol Released Current Forecast
Euro / Japanese Yen (EURJPY) Sat, 23 Mar 2024
Euro / Japanese Yen (EURJPY) Sun, 17 Mar 2024
Euro / Japanese Yen (EURJPY) Sat, 9 Mar 2024
Euro / Japanese Yen (EURJPY) Sat, 2 Mar 2024
Euro / Japanese Yen (EURJPY) Sun, 25 Feb 2024