NEWS: USD/JPY price is falling -0.6%. The Japanese Yen is strengthening after Initial Jobless Claims in the United States came in worse than expected at 744,000 new claims. The consensus forecast was 680,000.
Possible Scenarios:
If USD/JPY fails to breach through S2 of 109.025, our Research Department expects the USD/JPY to undergo a short-term upward correction.
If USD/JPY manages to break below its S2 of 109.025, our Research Department expects the USD/JPY to extend its losses to its S3 of 108.864.
Support and Resistance Levels:
USD/JPY |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
108.864 |
109.025 |
109.186 |
109.400 |
109.614 |
109.775 |
109.936 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
(+/-) $94.99 |
(+/-) €79.96 |
(+/-) £69.02 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.18798
***GBP/USD = 1.37622
Calculations for exchange rate used as of 13:38 AM (GMT+1) 08/04/2021