Last week:
During last week, market went bullish, rising to as high as 113.25.
Market was opened on Monday at 112.14, it drops to its minimum price at 111.47 on Mon, 09/25/2017 - 19:00, then it rises to its maximum price at 113.25 on Wed, 09/27/2017 - 16:00 and finally it was closed on Friday at 112.53.
Technical analysis:
- Price is above WEMA21, if price drops more, this line can act as dynamic support against more loses.
- Relative strength index (RSI) is 62.
- Current short-term is range bound, but resumption of uptrend is expected.
Trading suggestion:
There is possibility of temporary retracement to suggested support zone (108.10 to 107.20), if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
- Beginning of entry zone (108.10)
- Ending of entry zone (107.20)
Supports and Resistances:
- 109.85
- 110.95
- 112.60
- 114.35
- 115.50
- 118.60
- 121.50
- 123.50
- 125.80
Trade Setup:
#USDJPY
Total Profit: 2741 pip
Closed trade(s): 529 pip Profit
Open trade(s): 2212 pip Profit
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Trade Setup:
We opened 10 BUY trade(s) @ 109.37 (day close price) based on 'Valley' at 2017.09.11 signaled by DTO:
https://www.ForecastCity.com/forecasts/Forex/daily-trading-opportunity/U...
Closed Profit:
TP1 @ 109.85 touched at 2017.09.12 with 48 pip Profit.
TP2 @ 110.95 touched at 2017.09.14 with 158 pip Profit.
TP3 @ 112.60 touched at 2017.09.21 with 323 pip Profit.
48 + 158 + 323 = 529 pip
Open Profit:
Profit for one trade is 112.53(current price) - 109.37(open price) = 316 pip
7 trade(s) still open, therefore total profit for open trade(s) is 316 x 7 = 2212 pip
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