EUR/JPY weekly special report based On 1.00 Lot Calculation:
·EVENT Tuesday, (April 18 at 10:00 GMT+1): German ZEW Economic Sentiment. The German Zew Economic Sentiment measures the six month economic outlook of the German economy. It is expected that German ZEW sentiment will be at 17.1
·EVENT Wednesday, (April 19 at 10:00 GMT+1): Eurozone CPI and Core CPI. It is expected that eurozone inflation stays at the current level of 6.9%.
·EVENT Friday (April 28 at 04:00 GMT+1):Bank of Japan interest rate decision. After Kazuo Ureda succeeded Haruhiko Kuroda as chairman of Bank of Japan, the market anticipated a change of ultra loose monetary policy. Deutsche Bank expects in an upcoming meeting that Bank of Japan officials announce more restrictive monetary policy.
·TECHNICAL ANALYSIS: The 10- Day Relative Strength Index (RSI) shows the pair trades in overbought territory which could imply that the price of this currency pair may start a downward correction.
EURJPY, April 12, 2023
Current Price: 146.5000
|
EUR/JPY |
Weekly |
|
Trend direction |
|
|
151.0000 |
|
|
150.0000 |
|
|
149.0000 |
|
|
143.8000 |
|
|
141.8000 |
|
|
140.4000 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
-3,364 |
-2,617 |
-1,869 |
2,019 |
3,514 |
4,560 |
|
Profit or loss in €² |
-3,079 |
-2,395 |
-1,711 |
1,847 |
3,216 |
4,174 |
|
Profit or loss in £² |
-2,710 |
-2,108 |
-1,505 |
1,626 |
2,830 |
3,673 |
|
Profit or loss in C$² |
-4,529 |
-3,523 |
-2,516 |
2,717 |
4,730 |
6,139 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 09:16 (GMT+1) 12/4/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient 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 Senior Account ManagerClient Manager for more details