GBP/JPY

Market Opportunities - 01/03/2019

01 March, 2019

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.

GBP/JPY downtrend opportunity based On 1.00 Lot Calculation:

UK MPs voted on a number of tabled amendments in parliament on Wednesday, February 27, to pave the way for the next steps in the Brexit process. Last week’s votes in parliament suggest that Theresa May is closer to leading Britain out of the EU with a Brexit deal than at any other point since her negotiations with Brussels began. Sterling has fallen slightly as optimism settles from latest Brexit developments.

Japanese yen gained after the US and North Korea failed to reach an agreement on denuclearisation of the Korean peninsula after two days of meetings. Risk currencies were also hampered by uncertainty over the progress in US-China trade talks.

GBP/JPY, March 1, 2019
Pivot point: 148.16

GBP/JPY

Weekly

Trend Direction

DOWN

Resistance 3

151.27

Resistance 2

150.55

Resistance 1

149.84

Support 1

146.47

Support 2

145.65

Support 3

144.98

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

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

-2,780.38

-2139.58

-1505.93

1513.08

2238.79

2843.84

Profit or loss in €**

-2,453.74

-1888.22

-1329.01

1335.32

1975.77

2509.74

Profit or loss in £**

-2,100.24

-1616.19

-1137.55

1142.95

1691.13

2148.17

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 08:45 GMT 01/03/2019
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 the profit – Ask your Senior Account Manager for more details

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