USD/JPY

Special Reports - 27/06/2023

27 June, 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:

·NEWS Japanese finance minister Suzuki said that recent FX moves are one sided (June 27): Weaker Japanese Yen is starting to be a concern for Japanese officials. On Monday, Japanese Finance Minister, Shunichi Suzuki, said that FX moves should be based on fundamentals and that the Japanese Ministry of Finance could intervene in the FX market. Market anticipates that the USDJPY price range of 140 - 150 is an “intervention zone”. If Japanese officials intervene, we would expect a price of USDJPY currency pair to decrease.

·EVENT Wednesday, FED PRESIDENT, JEROME POWELL SPEECH (June 28 at 14:30 GMT+1): Federal Reserve Chairman. Jerome Powell is scheduled to speak at the ECB forum on Central Banking in Sintra, Portugal. His remarks on inflation, labor market and future interest rate steps could affect the US currency

·EVENT Thursday, US GDP READING (June 29 at 13:30 GMT+1): On Thursday, US GDP reading will be released. Market anticipates that on quarter on quarter basis us economy will by rise 1.4%

·EVENT Friday, US, PCE and CORE PCE Index (June 30 at 13:30 GMT+1): On Friday, Personal Consumption Expenditure index will be released. PCE index is a benchmark for Federal reserve in determination of inflation levels in the US

·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 an upward correction.However the price could decline further.

USDJPY, June 27, 2023 Current Price:143.6000

USD/JPY	Weekly
Trend direction	DOWN
Resistance 3	149.0000
Resistance 2	148.0000
Resistance 1	147.0000
Support 1	140.0000
Support 2	139.0000
Support 3	138.0000

Example of calculation base on weekly trend direction for 1.00 Lot¹

Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss in $	-3,876	-3,158	-2,440	2,584	3,301	4,019
Profit or loss in €²	-3,632	-2,960	-2,287	2,422	3,094	3,767
Profit or loss in £²	-3,126	-2,547	-1,968	2,084	2,663	3,242
Profit or loss in C$²	-5,202	-4,239	-3,275	3,468	4,431	5,394

1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 08:33 (GMT+1) 27/6/2023
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

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