CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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USDJPY price is increasing 0.7%

Fast Moving Market - 16/12/2024

16 December, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

NEWS: The USDJPY price is rising 0.7% following increased expectations that the Bank of Japan will not raise interest rates on December 18.

Possible Scenarios:

If USDJPY fails to breach through R2 of 154.79, our Research Department expects the USDJPY to undergo a short- term downward correction.

If USDJPY manages to break above its R2 of 154.79, our Research Department expects the USDJPY to extend its gains to its R3 of 155.22.

Support and Resistance Levels:

USDJPY

S3

S2

S1

Reference Price

R1

R2

R3

152.38

152.81

153.23

153.80

154.37

154.79

155.22

Potential Profit or Potential Loss Calculations:

10 pips per 1 trading lot*

USD

EUR**

GBP***

(+/-) $64.76

(+/-) €61.69

(+/-) £51.09

*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.04984
***GBP/USD = 1.26768
Calculations for exchange rate used as of Monday, December 16, 2024, 15:45 GMT

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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. See full risk warning

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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