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Weekly forecast New Zealand Dollar / Japanese Yen technical chart
Symbol NZDJPY
Trade Setup

#NZDJPY
Total Profit: 668 pip
Closed trade(s): 373 pip Profit
Open trade(s): 295 pip Profit

Trade Setup:
We opened 7 SELL trades @ 85.03 based on ' Peak' entry method at 2022-07-22.

Closed Profit:
TP1 @ 84.180 touched at 2022-07-29 with 85 pip Profit.
TP2 @ 82.154 touched at 2022-08-02 with 288 pip Profit.
85 + 288 = 373 pip

Open Profit:
Profit for one SELL trade is 85.03(open price) - 84.439(current price) = 59 pip
5 trade(s) still open, therefore total profit for open trade(s) is 59 x 5 = 295 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.

DateAugust 8, 2022 - 07:08
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 87.330, beginning of downtrend is expected.
  • We make sure when the support at 79.434 breaks.
  • If the resistance at 87.330 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 82.150 on 08/02/2022, so more gains to resistance(s) 86.335 and maximum to Major Resistance (87.330) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 50.

Take Profits:

  1. 84.183
  2. 82.154
  3. 79.434
  4. 78.080
  5. 76.610
  6. 75.282
Click on the level to view price action history.