NEWS: USD/JPY price increased 0.2%. The latest US inflation data released on Tuesday eased concerns for an earlier than expected tapering by the Fed and triggered a steep decline in the US Treasury bond yields. This, in turn, prompted some intraday US dollar selling and exerted heavy pressure on the USD/JPY pair.
Possible Scenarios:
If USD/JPY fails to breach through S1 of 109.387, our Research Department expects the USD/JPY to undergo a short-term upward correction.
If USD/JPY manages to break below its S1 of 109.387, our Research Department expects the USD/JPY to extend its losses to its S2 of 109.257.
Support and Resistance Levels:
USD/JPY |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
109.128 |
109.257 |
109.387 |
109.559 |
109.731 |
109.861 |
109.990 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $94.99 |
(+/-) €80.37 |
(+/-) £68.56 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.18181
***GBP/USD = 1.38542
Calculations for exchange rate used as of 09:00 (GMT+1) 15/9/2021