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USD/JPY

Market Opportunities - 30/07/2020

30 July, 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.

USD/JPY downtrend opportunity based On 1.00 Lot Calculation:

  • Worsening US-China relations helps to strengthen the yen.
  • Unemployment claims in the US rose unexpectedly to 1.416 million in the last week. Spikes in covid-19 cases in the Southern and Western part of the US will inevitably decelerate, if not force a retreat, in the economic recovery.
  • Overnight, the data showed that retail sales in Japan were higher than expected.

USD/JPY, July 30, 2020
Current price: 105.20

USD/JPY

Weekly

Trend Direction

DOWN

Resistance 3

106.63

Resistance 2

106.33

Resistance 1

106.07

Support 1

104.32

Support 2

104.03

Support 3

103.67

Example of calculation based 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 $

-1,360

-1,074

-827

837

1,112

1,455

Profit or loss Short in €**

-1,159

-916

-705

713

948

1,240

Profit or loss Short in £**

-892

-826

-636

644

856

1,119

Profit or loss Short in C$**

-1,824

-1,441

-1,110

1,122

1,492

1,951

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 12:15 (GMT+1) 30/07/2020
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** You may wish to 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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