NEWS: The USD/JPY quote decreased 0.2% ahead of tomorrow's Bank of Japan's monetary policy meeting. In the last three hours, the 10-year US government bond yield dropped from 1.34 to 1.30% pushing investors towards the yen.
Possible Scenarios:
If USD/JPY fails to breach through S2 of 109.094, our Research Department expects the USD/JPY to undergo a short-term upward correction.
If USD/JPY manages to break below its S2 of 109.094, our Research Department expects the USD/JPY to extend its losses to its S3 of 108.914.
Support and Resistance Levels:
USD/JPY |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
108.914 |
109.094 |
109.275 |
109.516 |
109.757 |
109.938 |
110.118 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $94.99 |
(+/-) €80.98 |
(+/-) £69.49 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.17290
***GBP/USD = 1.36700
Calculations for exchange rate used as of 11:45 (GMT+1) 21/9/2021