A new opportunity to Sell in EURJPY ….

A new opportunity to Sell in EURJPY ….


New trading suggestion:
Price may also reach to suggested resistance line (133.50). if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

Midterm forecast:
While the price is below the resistance 133.50, beginning of downtrend is expected.
We make sure when the support at 128.95 breaks.
If the resistance at 133.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Price may also reach 133.50, if the price reaches this level, we may enter by Daily-Trading-Opportunities, this entry depends on personal strategies.

Technical analysis:
A peak is formed in the daily chart at 133.50 on 04/24/2018, so more losses to support(s) 129.65, 128.20, 126.80 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
Relative strength index ( RSI ) is 36.

Total Profit: 3566 pip
Closed trade(s): 766 pip Profit
Open trade(s): 2800 pip Profit

Trade Setup:
We opened 11 SELL trade(s) @ 134.06 (day close price) based on ‘Peak’ at 2018.02.07 signaled by our “Daily Trading Opportunity”

Closed Profit:
TP1 @ 133.25 touched at 2018.02.08 with 82 pip Profit.
TP2 @ 131.65 touched at 2018.02.14 with 242 pip Profit.
TP3 @ 129.65 touched at 2018.03.02 with 442 pip Profit.
82 + 242 + 442 = 766 pip

Open Profit:
Profit for one trade is 134.06(open price) – 130.57(current price) = 350 pip
8 trade(s) still open, therefore total profit for open trade(s) is 350 x 8 = 2800 pip

Take Profits:
TP4= @ 128.20
TP5= @ 126.80
TP6= @ 124.10
TP7= @ 122.30
TP8= @ 118.45
TP9= @ 114.85
TP10= @ 111.25
TP11= Free