USD/JPY

Special Reports - 28/06/2024

28 June, 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.

USD/JPY weekly special report based On 1.00 Lot Calculation:

EVENT (FRIDAY, JUNE 28 AT 13:30 GMT+1): US PERSONAL CONSUMPTION EXPENDITURE (PCE) (MAY). The PCE data is the US Fed preferred inflation data, when it comes to interest rate decision making. If this data shows a further decline for May, then the US dollar might come under negative pressure.

EVENT (FRIDAY, JULY 5 AT 13:30 GMT+1): US NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT RATE (JUNE). The most recent data in the US showed that the unemployment has risen to 4% from previous 3.4% over the past few months. This trend could encourage the US Fed to start soon cutting their rates in order to stimulate the economy and reduce unemployment. This in turn tends to be negative for the US Dollar.

JAPANESE AUTHORITIES SIGNALED READINESS TO INTERVENE IN THE CURRENCY MARKETS: Market participants are waiting for the Bank of Japan to intervene, the risk of which has increased after Japan just published its CPI report for May. The Tokyo CPI Ex Food and Energy inflation rate increased from 1.2% to 1.4% in annual terms. If the BOJ conducts a foreign exchange intervention, the price USDJPY could fall.

USDJPY, June 28, 2024
Current Price: 161.00

USD/JPY	Weekly
Trend direction	DOWN
Resistance 3	166.20
Resistance 2	165.40
Resistance 1	164.40
Support 1	157.10
Support 2	154.00
Support 3	151.00

Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss in $	-3,229.79	-2,732.90	-2,111.79	2,422.35	4,347.80	6,211.14
Profit or loss in €²	-3,018.95	-2,554.50	-1,973.93	2,264.21	4,063.97	5,805.67
Profit or loss in £²	-2,555.18	-2,162.07	-1,670.69	1,916.38	3,439.66	4,913.80
Profit or loss in C$²	-4,429.74	-3,748.24	-2,896.37	3,322.31	5,963.12	8,518.74

1. 1.00 lot is equivalent of 100.000 units

2. Calculations for exchange rate used as of 10:00 (GMT) 28/06/2024

Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.

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Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more details

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