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EUR/JPY

Market Opportunities - 09/01/2020

09 January, 2020

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

EUR/JPY uptrend opportunity based On 1.00 Lot Calculation:

The safe- haven yen remained under pressure on Thursday after US President Donald Trump said in a statement to the American nation yesterday that the United States did not necessarily have to hit back after Iran’s attack on military bases housing U.S. troops in Iraq. Mr. Trump said that only economic punishing sanctions would be imposed on Iran, which has calmed down the sentiment, as the two sides appeared to avoid a war conflict. Meanwhile, data in Germany showed earlier today that Industrial Production rose 1.1% in November, beating analysts’ expectations for an increase of 0.70%, which should provide the euro a short- term support.

EUR/JPY, January 9, 2020
Pivot point: 121.45

EUR/JPY

Daily

Trend Direction

UP

Resistance 3

123.000

Resistance 2

122.460

Resistance 1

121.925

Support 1

120.982

Support 2

120.535

Support 3

120.092

Example of calculation base on daily trend direction for 1.00 Lot*

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss Short in $

1,430.26

931.98

438.31

-431.85

-844.31

-1,253.09

Profit or loss Short in €

1,286.67

838.41

394.30

-388.49

-759.55

-1,127.29

Profit or loss Short in £

1,098.51

715.80

336.64

-331.68

-648.47

-962.44

* 1.00 lot is equivalent of 100000 units
** Calculations for exchange rate used as of 10:52 (GMT) 09/01/2020
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** Please consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect profit – Ask your Senior Account Manager for more details

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