NEWS: USDJPY price increased 0.2%. USD/JPY rallies despite Japanese Finance Minister Shunichi Suzuki warning the authorities might directly intervene to prop up the Japanese Yen on Tuesday.
Possible Scenarios:
If USDJPY fails to breach through R1 of 155.152, our Research Department expects the USDJPY to undergo a short- term downward correction.
If USDJPY manages to break above its R1 of 155.152, our Research Department expects the USDJPY to extend its gains to its R2 of 155.33.
Support and Resistance Levels:
USDJPY |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
154.32 |
154.50 |
154.68 |
154.92 |
155.15 |
155.33 |
155.51 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $64.52 |
(+/-) €60.39 |
(+/-) £51.88 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.06850
***GBP/USD = 1.24360
Calculations for exchange rate used as of Wednesday, April 24, 2024, 14:30: AM