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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

Download MT4 template file

Trade Setup
#GBPJPY
Total Profit: 1680 pip
Closed trade(s): 1680 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 133.79 (day close price) based on 'Valley' at 2020.06.30 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/G...

Closed Profit:
TP1 @ 135.65 touched at 2020.07.09 with 186 pip Profit.
TP2 @ 137.65 touched at 2020.07.31 with 386 pip Profit.
TP3 @ 139.75 touched at 2020.08.13 with 596 pip Profit.
186 + 386 + 596 = 1168 pip

Closed Profit:
Profit for one trade is 135.07(current price) - 133.79(open price) = 128 pip
4 trade(s) closed at market price as the major support is broken, therefore total profit will increase by 128 x 4 = 512 pip

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
DateSeptember 19, 2020 - 22:19
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 137.650 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • The RSI uptrend #1 is broken, so the probability of continuation of downtrend is increased.
  • A peak is formed in daily chart at 142.65 on 09/01/2020, so more losses to support(s) 132.05, 130.65, 126.65 and more depths 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 31.

Supports and Resistances:

  1. 149.50
  2. 146.50
  3. 143.70
  4. 139.75
  5. 137.65
  6. 135.65
  7. 116.80
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Japanese Yen (GBPJPY) Sun, 14 Apr 2024
British Pound / Japanese Yen (GBPJPY) Sat, 6 Apr 2024
British Pound / Japanese Yen (GBPJPY) Sat, 30 Mar 2024
British Pound / Japanese Yen (GBPJPY) Sat, 23 Mar 2024
British Pound / Japanese Yen (GBPJPY) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPJPY.