USD/JPY

Special Reports - 15/10/2021

15 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 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 Daily uptrend opportunity based on 1.00 Lot Calculation:

EVENT: Friday, October 15 at 01:30 pm GMT+1 - The U.S. Retail data for September. The last month, retail sales rose 0.7%, while this month a drop of 0.2% is expected;
Rising US government bond yields continue to push the dollar higher against the yen. This currency pair is in particular very sensitive to interest rate differential between the U.S. and Japan. The 10-year Treasury yield rose above the 1.6% level on Friday providing support to the US currency.

USD/JPY, October 15, 2021
Current Price: 113.99

USD/JPY	Weekly
Trend Direction	UP
Resistance 3	115.19
Resistance 2	114.99
Resistance 1	114.79
Support 1	113.19
Support 2	112.99
Support 3	112.79

Example of calculation based on dailly 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 $	1,091	910	728	-728	-910	-1,091
Profit or loss Short in €**	940	783	627	-627	-783	-940
Profit or loss Short in £**	795	663	530	-530	-663	-795
Profit or loss Short in C$**	1,352	1,126	901	-901	-1,126	-1,352

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 07:45 am (GMT+1) 15/10/2021
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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