USD/JPY weekly special report based on 1.00 Lot Calculation:
NEWS:
- BREAKING (SEPTEMBER 18): FEDERAL RESERVE ANNOUNCED ITS FIRST INTEREST RATE CUT SINCE 2020. US Federal Reserve decided to cut its benchmark interest rate by 0.50% points on September 18, to 5.00% from the previous 5.50%. The bank expects to cut rates two more times in 2024 to slash its benchmark rate to 4.5% by the end of 2024. The bank expects rates to fall to 3.5% in 2025 and further down to 2.9% in 2026.
EVENTS:
- FRIDAY, SEPTEMBER 20 AT 00:30 GMT +1: JAPAN NATIONAL CONSUMER PRICE INDEX(CPI) (AUGUST). The CPI’S august report showed that Japan’s inflation rate increased to 2.7% in July, in line with forecasts. Inflation in Japan has been rising since April 2024, when it was 2.2%, and it is expected to reach 2.8% in August. If the inflation rate comes in at 2.8% or higher, it could further strengthen the Japanese yen.
- FRIDAY, SEPTEMBER 20 AT 04:00 GMT +1: BANK OF JAPAN (BOJ) INTEREST RATE DECISION. On July 31, the Bank of Japan raised interest rates from 0.1% to 0.25%, marking the highest level in 15 years. Junko Nakagawa, a member of the BOJ’s policy board, stated that if inflation aligns with forecasts, the BOJ will consider further rate hikes. According to Reuters, majority of analysts are expecting further increase from BOJ until the end of year.
- THURSDAY, SEPTEMBER 26 AT 13:30 GMT+1: UNITED STATES OFFICIAL GROSS DOMESTIC PRODUCT (GDP) FOR Q2. The final rating is expected to show a growth rate of 3% for the second quarter, confirming what we saw with the second reading a month ago. However, worse-than expected manufacturing data came in September at 47.2% (vs 47.5%) which indicates that US manufacturing sector is in recession. Manufacturing industry makes around 10% of national GDP, hence if it underperforms, it may reduce decrease GDP as well. A lower-than-expected rate could weaken the US dollar.
- FRIDAY, SEPTEMBER 27 AT 13:30 GMT+1: UNITED STATES PERSONAL CONSUPTION EXPENDITURES (CPE)PRICE INDEX (AUGUST). The CPE price index provides the Fed with inflation figures. For July, data showed a decline to 2.5% from the previous 2.6%. A further decrease in the CPE price index could put the dollar under heavy pressure.
USDJPY, September 19, 2024
Current Price: 143.57
|
USD/JPY |
Weekly |
|
Trend direction |
|
|
146.500 |
|
|
146.000 |
|
|
145.500 |
|
|
140.500 |
|
|
137.500 |
|
|
133.500 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
-2,038.78 |
-1,690.86 |
-1,342.95 |
2,136.19 |
4,223.68 |
7,007.00 |
|
Profit or loss in €² |
-1,832.20 |
-1,519.54 |
-1,206.87 |
1,919.74 |
3,795.71 |
6,297.01 |
|
Profit or loss in £² |
-1,539.76 |
-1,277.00 |
-1,014.24 |
1,613.33 |
3,189.87 |
5,291.93 |
|
Profit or loss in C$² |
-2,766.49 |
-2,294.39 |
-1,822.30 |
2,898.68 |
5,731.26 |
9,508.04 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 14:50 (GMT) 19/09/2024
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.