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 |
|
|
110.55 |
|
|
110.35 |
|
|
110.25 |
|
|
108.45 |
|
|
108.35 |
|
|
108.15 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
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