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Weekly forecast Australian Dollar / Japanese Yen technical chart
Symbol AUDJPY

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Trade Setup

#AUDJPY
Total Profit: 805 pip
Closed trade(s): 181 pip Profit
Open trade(s): 624 pip Profit

Trade Setup:
We opened 10 SELL trade(s) @ 84.28 based on 'Peak' entry method at 2021.03.19.

Closed Profit:
TP1 @ 84.00 touched at 2021.03.22 with 28 pip Profit.
TP2 @ 82.75 touched at 2021.03.23 with 153 pip Profit.
28 + 153 = 181 pip

Open Profit:
Profit for one trade is 84.28(open price) - 83.50(current price) = 78 pip
8 trade(s) still open, therefore total profit for open trade(s) is 78 x 8 = 624 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.

DateApril 10, 2021 - 12:12
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 84.950, beginning of downtrend is expected.
  • We make sure when the support at 80.900 breaks.
  • If the resistance at 84.950 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 84.935 on 2021-02-25 and the peak at 85.435 on 2021-03-18, 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 84.45 on 04/02/2021, so more losses to support(s) 82.75, 81.85 and minimum to Major Support (80.90) 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 49.

Take Profits:

  1. 84.00
  2. 82.75
  3. 81.85
  4. 80.90
  5. 79.60
  6. 78.45
  7. 76.85
  8. 75.50
  9. 73.10
Click on the level to view price action history.