CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

GBP/JPY

Market Opportunities - 02/08/2019

02 August, 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 a downtrend opportunity based On 1.00 Lot Calculation:

On Thursday, the Bank of England left its key interest rate unchanged trimming its 2019 GDP forecast growth.

This week, UK Primer Minister Boris Johnson faced a growing resistance in Scotland for his plans to leave the EU on October 31 with or without a deal.

The yen strenghtened strongly on Thursday after US President Donald Trump announced a sharp escalation of the U.S.’s trade war with China.

GBP/JPY, August 2, 2019
Current Price: 129.65

GBP/JPY

Weekly

Trend Direction

DOWN

PIVOT POINTS

Resistance 3

131.84

Resistance 2

131.25

Resistance 1

130.96

Support 1

128.33

Support 2

128.00

Support 3

127.36

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 Short in $

-2049

-1497

-1226

1235

1544

2143

Profit or loss Short in €

-1847

-1349

-1105

1113

1391

1931

Profit or loss Short in £

-1690

-1234

-1011

1018

1273

1767

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:30 GMT+1 2/8/2019
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.

Share It With Your Network
Pound - Japanese Yen Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now