USD/JPY

Market Opportunities - 25/03/2021

25 March, 2021 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 Weekly uptrend opportunity based On 1.00 Lot Calculation:

EVENT: Thursday, April 1 at 02:00 pm GMT - The ISM Manufacturing from the US will be released. It is expected to show further progress of the US economic recovery. Namely, the index is expected to rise to 61 points after it rose by two points last month;
The US government is speeding up the distribution of vaccines placing the US on the third place in world, behind Israel and the UK, when it comes to the number of inoculations;
The currency pair is in a strong (long-term) uptrend that may continue.

USD/JPY, March 25, 2021
Current Price: 109.05

USD/JPY	Weekly
Trend direction	UP
Resistance 3	110.35
Resistance 2	110.15
Resistance 1	109.95
Support 1	108.15
Support 2	107.95
Support 3	107.75

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 $	1,197	1,013	828	-828	-1,013	-1,197
Profit or loss in €**	1,006	851	697	-697	-851	-1,006
Profit or loss in £**	869	735	602	-602	-735	-869
Profit or loss in C$**	1,506	1,274	1,042	-1,042	-1,274	-1,506

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 08:00 am (GMT) 25/3/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client 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 Client 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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