USD/JPY

USD/JPY weekly special report based On 1.00 Lot Calculation:

• EVENT (WEDNESDAY, SEPTEMBER 20 AT 19:00 GMT+1): U.S. FEDERAL RESERVE INTEREST RATE DECISION. Federal Reserve raised interest rates to 5.50% last time (Its highest in 22 years). Fed Chair Powell said that they will go meeting by meeting depending on data to see if more hikes will be needed. He kept the door open, though, for a stop in September. According to the CMEGROUP.COM*, the markets assign 99.0%** of probability to an outcome that will see no changes in interest rates in September.
• EVENT: (FIDAY, SEPTEMBER 22 AT 04:00 GMT+1): BANK OF JAPAN INTEREST RATE DECISION. The BOJ head hinted at the possibility of abandoning negative interest rates. In an interview with the Yomiuri newspaper, Ueda said the BOJ could end negative rates if it believed that inflation would sustainably hold above the target. According to him, by the end of this year, the central bank will have enough information to decide whether to abandon the negative rate. The BOJ currently maintains a short-term deposit interest rate at -0.1% per annum.

USDJPY, September 19, 2023
Current Price:147.80

Example of calculation base on weekly trend direction for 1.00 Lot¹

1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 10:50 (GMT+1) 19/9/2023
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

*https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html

**At time of writing and subject to frequent change due to market activity