USD/JPY

Special Reports - 30/05/2023

30 May, 2023

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 weekly special report based On 1.00 Lot Calculation:

EVENT: (United States Unemployment Data, June 2nd, 2023): The United States will post its Non-Farm Payroll Changes for May and its updated Unemployment Rate.
EVENT: (FOMC Meeting, June 14th, 2023): The FOMC of the U.S. Federal Reserve Bank will meet on June 14th to set the Fed Funds rate target. The FOMC is influenced by both the strength of the labor market and the level of inflation. If the figures align with or slightly fall below expectations, it may inspire limited stock purchases and dollar sales among investors who hope that interest rates will not be raised on June 14 and that Congress will finally reach an agreement on the debt ceiling. This could serve as a catalyst for a local market rally, accompanied by a weakening US dollar.

USD/JPY, May 30, 2023
Current Price: 140.50

USD/JPY	Weekly
Trend direction	DOWN
Resistance 3	148.70
Resistance 2	145.50
Resistance 1	143.40
Support 1	137.70
Support 2	134.50
Support 3	131.50

Example of calculation base on weekly trend direction for 1.00 Lot¹

USD/JPY
Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss in $	-5,839.89	-3,560.91	-2,065.33	2,128.61	4,273.09	6,409.64
Profit or loss in €²	-5,460.30	-3,329.45	-1,931.08	1,990.25	3,995.35	5,993.02
Profit or loss in £²	-4,730.94	-2,884.72	-1,673.14	1,724.40	3,461.66	5,192.49
Profit or loss in C$²	-7,944.97	-4,844.50	-2,809.81	2,895.90	5,813.39	8,720.09

1. 1.00 lot is equivalent of 100,000 units

2. Calculations for exchange rate used as of 10:05 (GMT) 30/05/2023
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 detail

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