USD/JPY

Market Opportunities - 01/10/2021

01 October, 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: 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

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