NEWS: The USDJPY is falling -1.1%. The yen received some safe-haven support as risk sentiment took a hit after Wall Street ended sharply lower amid an ongoing rotation out of technology stocks.
Possible Scenarios:
If USDJPY fails to breach through S2 of 151.71, our Research Department expects the USDJPY to undergo a short- term upward correction.
If USDJPY manages to break below its S2 of 151.71, our Research Department expects the USDJPY to extend its losses to its S3 of 151.20
Support and Resistance Levels:
USDJPY |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
151.20 |
151.71 |
152.21 |
152.89 |
153.57 |
154.07 |
154.58 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $65.72 |
(+/-) €60.57 |
(+/-) £50.96 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD= 1.08495
***GBP/USD= 1.28960
Calculations for exchange rate used as of Thursday, July 25, 2024, 10:00: AM