NEWS: USDJPY price increased 0.9% after the BoJ signalled that it is ready to hike interest rates later this year.
Possible Scenarios:
If USDJPY fails to breach through R2 of 156.89, our Research Department expects the USDJPY to undergo a short- term downward correction.
If USDJPY manages to break above its R2 of 156.89, our Research Department expects the USDJPY to extend its gains to its R3 of 157.06.
Support and Resistance Levels:
USDJPY |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
155.94 |
156.11 |
156.28 |
156.50 |
156.72 |
156.89 |
157.06 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $63.8 |
(+/-) €59.45 |
(+/-) £51.02 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.07313
***GBP/USD = 1.25048
Calculations for exchange rate used as of Friday, April 26, 2024, 08:43 GMT+1