J-jpy
USD/JPY TO GO BEARISH IN COMING DAYSON DAILY TIME FRAME = There is a Fibonacci retracement level of 0.618 between the levels of 106.352 and 104.019
ON HOURLY TIME FRAME = Level of 105.530 has been rejected several times.
Also we can find a downward trend on overall chart
So, from above observation there is a lot of probability that in coming days USD may be Bearish and JPY may be Bullish. once it crosses the level of 105.204 then it can continue to the level of 104.058 and we can put our stop loss at 105.598 which gives us RISK/REWARD ratio of 2.62.
Enter trade = 105.204
Stop Loss = 105.598
Take Profit = 104.058
Two Sell opportunities on this chart for AUDJPYMid-Term Forecast
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (76.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Take Profits:
TP1= @ 75.10
TP2= @ 74.40
TP3= @ 72.50
TP4= @ 70.00
TP5= @ 67.60
SL: Break Above R2
---------------------------------------------------------------------------------
Short-Term Forecast
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (76.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. AUDJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 30.
Take Profits:
TP1= @ 75.11
TP2= @ 74.42
TP3= @ 72.50
TP4= @ 72.50
TP5= @ 71.86
SL: Break Above R2
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EURJPY Second Chance: Profit= 570 SL= 114 Reward/Risk > 5:1Second Chance Trade Setup summary:
Profit targets= 570 = {TP3= 110 + TP4= 185 + TP5= 275} pip
Stop Loss = 114 pip
Reward/Risk > 5 : 1
New Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line ( 123.00) again.
if so, traders can set orders based on Price Action and expect to reach short-term targets."
New Take Profits:
TP3= @ 121.90
TP4= @ 121.15
TP5= @ 120.25
SL= Break above 123.38
--------------------------------------------------------------------------------------------------
First Buy Current Status:
Total Profit: 757
Closed trade(s): 226 Profit
Open trade(s): 531 Profit
Trade Setup:
We opened 5 Sell trade(s) @ 124.43 based on 'previous Forecast' at 09.16.2020:
Closed Profit:
TP1 @ 123.60 touched at 09.17.2020 with 83 Profit.
TP2 @ 123.00 touched at 09.21.2020 with 143 Profit.
83 + 143 = 226
Open Profit:
Open trade is 122.66(current price) - 124.43 (open price) = 177
3 trade(s) still open, therefore total profit for open trade(s) is 177 x 3 = 531
Technical analysis:
. EURJPY is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 26.
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Don't miss the great sell opportunity in EURJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (124.45). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 55.
Take Profits:
TP1= @ 123.75
TP2= @ 123.30
TP3= @ 123.05
SL: Break Above R2
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Don't miss the great sell opportunity in EURJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (124.43). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 27.
Take Profits:
TP1= @ 123.60
TP2= @ 123.00
TP3= @ 121.90
TP4= @ 121.15
TP5= @ 120.25
SL: Break Above R2
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Don't miss the great sell opportunity in GBPJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (139.65). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 23.
Take Profits:
TP1= @ 137.85
TP2= @ 136.60
TP3= @ 135.10
TP4= @ 133.95
TP5= @ 131.95
SL: Break Above R2
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Don't miss the great sell opportunity in CADJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (80.8). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADJPY is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 30.
Take Profits:
TP1= @ 80.29
TP2= @ 79.87
TP3= @ 79.60
TP4= @ 78.97
TP5= @ 78.30
SL: Break Above R2
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Don't miss the great sell opportunity in EURJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (126.68). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 52.
Take Profits:
TP1= @ 125.95
TP2= @ 125.35
TP3= @ 124.30
TP4= @ 123.00
TP5= @ 122.35
SL: Break Above R2
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Don't miss the great sell opportunity in CHFJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (117.27). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CHFJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 56.
Take Profits:
TP1= @ 115.80
TP2= @ 114.41
TP3= @ 112.00
TP4= @ 110.26
TP5= @ 108.73
SL: Break Above R2
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Don't miss the great sell opportunity in CADJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (81.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 32.
Take Profits:
TP1= @ 80.50
TP2= @ 79.93
TP3= @ 79.50
TP4= @ 78.97
TP5= @ 78.40
SL: Break Above R3
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Don't miss the great buy opportunity in GBPJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (140.4). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 67.
Take Profits:
TP1= @ 141.00
TP2= @ 141.25
TP3= @ 141.70
SL= Break below S2
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Don't miss the great buy opportunity in USDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (106.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 106.65
TP2= @ 107.05
TP3= @ 107.70
TP4= @ 108.15
TP5= @ 109.85
SL= Break below S2
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Don't miss the great buy opportunity in GBPJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (139.15). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 57.
Take Profits:
TP1= @ 140.00
TP2= @ 140.74
TP3= @ 141.68
TP4= @ 142.95
TP5= @ 144.95
SL= Break below S2
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Don't miss the great sell opportunity in NZDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested resistance line (69.55). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDJPY is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 36.
Take Profits:
TP1= @ 69.00
TP2= @ 68.69
TP3= @ 68.12
TP4= @ 67.36
TP5= @ 66.78
SL= Break above R2
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Don't miss the great buy opportunity in EURJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (126.05). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 53.
Take Profits:
TP1= @ 126.75
TP2= @ 127.00
TP3= @ 127.35
SL= Break below S2
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Don't miss the great buy opportunity in EURJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (125.5). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 126.20
TP2= @ 126.75
TP3= @ 127.35
SL= Break below S2
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Don't miss the great buy opportunity in CADJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (79.87). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 75.
Take Profits:
TP1= @ 80.55
TP2= @ 80.95
TP3= @ 81.65
TP4= @ 82.25
TP5= @ 82.75
SL= Break below S2
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Don't miss the great buy opportunity in USDJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (106.15). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 66.
Take Profits:
TP1= @ 106.55
TP2= @ 106.80
TP3= @ 107.35
TP4= @ 107.80
TP5= @ 109.57
SL= Break below S2
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Don't miss the great buy opportunity in GBPJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (138.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 55.
Take Profits:
TP1= @ 138.85
TP2= @ 139.20
TP3= @ 139.70
SL= Break below S2
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Don't miss the great buy opportunity in EURJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (125.1). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 63.
Take Profits:
TP1= @ 125.50
TP2= @ 125.80
TP3= @ 126.00
SL= Break below S2
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Don't miss the great buy opportunity in GBPJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (138.3). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 139.15
TP2= @ 139.72
TP3= @ 140.90
TP4= @ 142.05
TP5= @ 143.35
SL= Break below S2
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ForecastCity English Support Team ❤️