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Weekly forecast Canadian Dollar / Japanese Yen technical chart
Symbol CADJPY
Trade Setup

#CADJPY
Total Profit: 1603 pip
Closed trade(s): 395 pip Profit
Open trade(s): 1208 pip Profit

Trade Setup:
We opened 6 SELL trades @ 108.459 based on 'Peak' entry method at 2022-09-14.

Closed Profit:
TP1 @ 107.155 touched at 2022-09-21 with 130 pip Profit.
TP2 @ 105.811 touched at 2022-09-22 with 265 pip Profit.
130 + 265 = 395 pip

Open Profit:
Profit for one SELL trade is 108.459(open price) - 105.439(current price) = 302 pip
4 trade(s) still open, therefore total profit for open trade(s) is 302 x 4 = 1208 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.

DateSeptember 22, 2022 - 16:39
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 110.500, beginning of downtrend is expected.
  • We make sure when the support at 101.110 breaks.
  • If the resistance at 110.500 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 peak is formed in daily chart at 110.500 on 09/13/2022, so more losses to support(s) 102.500 and minimum to Major Support (101.110) 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 40.

Take Profits:

  1. 107.155
  2. 105.811
  3. 101.110
  4. 97.771
  5. 92.158
Click on the level to view price action history.