NEWS: The USD/JPY quote decreased 0.2% as the 10-year US government bond yield fell to 1.32%, while concerns over the global economic recovery from COVID-19 continued to mount.
Possible Scenarios:
If USD/JPY fails to breach through S2 of 109.863, our Research Department expects the USD/JPY to undergo a short-term upward correction.
If USD/JPY manages to break below its S2 of 109.863, our Research Department expects the USD/JPY to extend its losses to its S3 of 109.753.
Support and Resistance Levels:
USD/JPY |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
109.753 |
109.863 |
109.973 |
110.120 |
110.267 |
110.377 |
110.487 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $94.99 |
(+/-) €80.47 |
(+/-) £69.16 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.18140
***GBP/USD = 1.37490
Calculations for exchange rate used as of 08:00 (GMT+1) 9/9/2021