USD/JPY

Market Opportunities - 30/07/2020

30 July, 2020 Research Department

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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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. 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.

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