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Weekly forecast Swiss Franc / Japanese Yen technical chart
Symbol CHFJPY

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Trade Setup

#CHFJPY
Total Profit: 5714 pip
Closed trade(s): 3612 pip Profit
Open trade(s): 2102 pip Profit
_______________________________________________
Trade Setup:
We opened 8 BUY trade(s) @ 112.79 (day close price) based on 'Hammer' at 2014.10.16 signaled by DTO:
http://ForecastCity.com/forecasts/Forex/daily-trading-opportunity/CHFJPY...

Closed Profit:
TP1 @ 113.40 touched at 2014.10.20 with 61 pip Profit.
TP2 @ 114.40 touched at 2014.10.29 with 161 pip Profit.
TP3 @ 116.20 touched at 2014.10.31 with 341 pip Profit.
TP4 @ 117.70 touched at 2014.11.03 with 491 pip Profit.
TP5 @ 119.15 touched at 2014.11.05 with 636 pip Profit.
TP6 @ 120.65 touched at 2014.11.14 with 786 pip Profit.
TP7 @ 124.15 touched at 2014.11.20 with 1136 pip Profit.
61 + 161 + 341 + 491 + 636 + 786 + 1136 = 3612 pip

Open Profit:
Profit for one trade is 133.81(current price) - 112.79(open price) = 2102 pip
1 trade(s) still open, therefore total profit for open trade(s) is 2102 x 1 = 2102 pip
_______________________________________________

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (112.25 to 111.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (112.25)
    • Support on 01/15/2015
    • Support on 10/23/2014
    • Support on 10/22/2014
    • Support on 10/16/2014
    • Support on 10/13/2014
    • Support on 08/08/2014
    • Support on 08/07/2014
    • Support on 08/06/2014
    • Trough on 07/31/2014
    • Trough on 07/28/2014
    • Trough on 07/25/2014
    • Support on 07/24/2014
    • Trough on 07/24/2014
    • Support on 07/23/2014
    • Trough on 07/23/2014
  • Ending of entry zone (111.50)
    • Support on 01/15/2015
    • Support on 10/16/2014
    • Support on 11/27/2013
DateJanuary 25, 2015 - 20:59
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • The current trend is uptrend and the forecast is continuation of uptrend.

Technical analysis:

  • A peak is formed in daily chart at 156.35 on 01/15/2015, so more losses to support(s) 124.15, 120.65, 119.15 and minimum to Trend Hunter Buy Zone (112.25 to 111.50) 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 64.

Take Profits:

  1. 113.40
  2. 114.40
  3. 116.20
  4. 117.70
  5. 119.15
  6. 120.65
  7. 124.15
Click on the level to view price action history.
Symbol Released Current Forecast
Swiss Franc / Japanese Yen (CHFJPY) Sun, 14 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 14 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 7 Apr 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 31 Mar 2024
Swiss Franc / Japanese Yen (CHFJPY) Sun, 24 Mar 2024
History
Daily-Trading-Opportunities on CHFJPY.