CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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 - 01/10/2021

01 October, 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 uptrend opportunity based on 1.00 Lot Calculation:

  • EVENT: Friday, October 8 at 01:30 pm GMT+1 - The U.S. Non-farm Payroll (NFP) figures for September. The last month, a sharp decrease of the number of newly employed (235,000) was posted. This time, an increase of 500,000 jobs is expected, which would be positive for the dollar;
  • Rising US government bond yields push the dollar against the yen, as this currency pair is very sensitive to interest rate differential between the two countries, the U.S. and Japan;
  • The currency pair is in a (short-term) uptrend that may continue.

USD/JPY, October 1, 2021
Current Price: 111.04

USD/JPY

Weekly

Trend Direction

UP

Resistance 3

112.04

Resistance 2

111.84

Resistance 1

111.64

Support 1

110.44

Support 2

110.24

Support 3

110.04

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 $

819

728

546

-546

-728

-910

Profit or loss Short in €**

707

629

471

-471

-629

-786

Profit or loss Short in £**

676

541

406

-406

-541

-676

Profit or loss Short in C$**

1,157

926

694

-694

-926

-1,157

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:20 am (GMT+1) 1/10/2021
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

Share It With Your Network
US Dollar - Japanese Yen Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now
Close

Be aware of the holiday trading hours for:

  • Monday, 11 October 2021 for the Thanksgiving Holiday in Canada.
  • Thursday, 14 October 2021 for the Chung Yeung Day holiday in Hong Kong.
Instrument 11.10.2021 14.10.2021 15.10.2021
ALL FOREX Regular Regular Regular
Indices
Hong Kong 50 Regular Closed Regular
CAD 60 Closed Regular Regular
Equities
Canadian stock Closed Regular Regular
  • The above times may be subject to change.
  • Please note: In case of low liquidity in a specific instrument, Fortrade may widen the spreads or even close the instrument for trading. Notifications will be issued regarding any such changes to the trading schedule.
  • The dates preceding and following this holiday have the regular trading schedule.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% 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. 80% 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.