CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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.

USD/JPY

Market Opportunities - 12/04/2021

12 April, 2021

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 downtrend opportunity based on 1.00 Lot Calculation:

  • EVENT: Monday, April 19 at 00:50 pm GMT+1 – In Japan, a set of macroeconomic data for March will be released (industrial production, exports and trade balance figures). The data is expected to show slow recovery of the Japanese exports and the rise in trade surplus;
  • Overnight, the inflation data from Japan (Producers Price Index - PPI) was higher than expected. Namely, the PPI rose 0.8% vs. 0.4% forecast, while the increase was 1% (vs. 0.5% forecast) on an annual basis. This indicates that the recovery in the third world economy may be underway;
  • Tensions in the Middle East region are also supportive for the Japanese currency;
  • With few exceptions, the currency pair traded in the last two years mainly between 103 and 110 and could not break above the 110 level and stay there for a meaningful period of time.

USD/JPY, April 12, 2021
Current Price: 109.35

USD/JPY

Weekly

Trend Direction

DOWN

Resistance 3

110.55

Resistance 2

110.35

Resistance 1

110.25

Support 1

108.45

Support 2

108.35

Support 3

108.15

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 $

-1,105

-920

-828

828

920

1,105

Profit or loss Short in €**

-928

-773

-696

696

773

928

Profit or loss Short in £**

-676

-670

-603

603

670

676

Profit or loss Short in C$**

-1,386

-1,155

-1,039

1,039

1,155

1,386

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:00 am (GMT+1) 12/4/2021
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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  • Please note that in case of low liquidity in a specific FX or metals instrument, the DR may widen the spreads and even close the instrument for trading – every change of that character will be notified ahead by the DR.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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.
  • 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 leveraged contracts work and whether you can afford to take the high risk of losing your money.