CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

USD/JPY

Special Reports - 09/09/2021

09 September, 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 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: Tuesday, September 14 at 01:30 pm GMT+1 - The U.S. Core CPI for August. The last month indicated an increase of 4.3% while the headline inflation showed 5.4% an annual basis;
  • Rising US inflation pushes the Fed to start tapering of its massive bond-buying program sooner rather than later, which may be supportive for the dollar;

USD/JPY, September 9, 2021
Current Price: 109.84

USD/JPY

Weekly

Trend Direction

UP

Resistance 3

110.94

Resistance 2

110.74

Resistance 1

110.54

Support 1

109.14

Support 2

108.94

Support 3

108.74

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 $

1,001

819

637

-637

-819

-1,001

Profit or loss Short in €**

846

692

539

-539

-692

-846

Profit or loss Short in £**

725

594

462

-462

-594

-725

Profit or loss Short in C$**

1,270

1,039

808

-808

-1,039

-1,270

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:30 am (GMT+1) 9/9/2021
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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