EUR/JPY weekly special report based On 1.00 Lot Calculation:
·EVENT Wednesday, (May 17 at 10:00 GMT+1): Eurozone Consumer Price Index (CPI). At the start of this year, Year on Year inflation was 9.2%. Year on Year CPI reading that was released on May 2, 2023 was at 7%. If this trend continues, we could expect downward pressure on EUR currency.
·EVENT Wednesday, (May 17 at 00:50 GMT+1): Japan's Gross Domestic Product (GDP). Market expects that Japan's economy will grow year on year at the growth rate of 2% which is a significant increase from 0.1% that was released earlier. If this scenario occurs, we could expect upward pressure on Japanese currency.
·TECHNICAL ANALYSIS: Stochastic oscillator on daily graph suggest that this currency pair is in overbought territory, after testing its highest rate since 2008, which could suggest that downward price correction is possible.
EURJPY, May 10, 2023
Current Price:148.5000
|
EUR/JPY |
Weekly |
|
Trend direction |
|
|
154.0000 |
|
|
152.0000 |
|
|
150.5000 |
|
|
146.2000 |
|
|
144.0000 |
|
|
142.0000 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
-4,065 |
-2,587 |
-1,478 |
1,700 |
3,326 |
4,804 |
|
Profit or loss in €² |
-3,702 |
-2,356 |
-1,346 |
1,548 |
3,029 |
4,376 |
|
Profit or loss in £² |
-3,215 |
-2,046 |
-1,169 |
1,344 |
2,630 |
3,799 |
|
Profit or loss in C$² |
-5,435 |
-3,459 |
-1,976 |
2,273 |
4,447 |
6,423 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 08:20 (GMT+1) 10/5/2023
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- You may wish to consider closing your position in profit, even if it is lower than suggested one
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