CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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USD/JPY

Special Reports - 18/03/2024

18 March, 2024

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 (TUESDAY, MARCH 19, 2024, 03:30 GMT): BANK OF JAPAN INTEREST RATE DECISION: The Bank of Japan could end its yield curve control policies and end its negative interest rates at a meeting this week. Those expectations came as major Japanese firms agreed to larger-than-expected pay increases at last week’s annual spring wage negotiations. BOJ officials have repeatedly stated that it could start normalizing monetary policy if a positive cycle between rising wages and inflation is sustained.
  • EVENT (FEDERAL RESERVE INTEREST RATE DECISION - MARCH 20, 2024): The United States Federal Reserve will be making a decision on interest rates on March 20th, 2024.The Fed has kept interest rates at 5.5% since July 2023 and markets are expecting rates to remain unchanged at the March meeting. Markets will be focused on Fed Chairman Powell’s speech after the meeting for indications and guidance as to when interest rate cuts can be expected.

USDJPY, March 18, 2024
Current Price: 149.00

USD/JPY

Weekly

Trend direction

DOWN

Resistance 3

153.00

Resistance 2

152.00

Resistance 1

150.70

Support 1

147.20

Support 2

142.50

Support 3

139.60

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 $

-2,683.12

-2,012.34

-1,140.33

1,207.41

4,360.08

6,305.34

Profit or loss in €²

-2,462.52

-1,846.89

-1,046.57

1,108.13

4,001.59

5,786.92

Profit or loss in £²

-2,105.28

-1,578.96

-894.74

947.37

3,421.08

4,947.40

Profit or loss in C$²

-3,629.23

-2,721.92

-1,542.42

1,633.15

5,897.50

8,528.70

1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 10:00 (GMT) 18/03/2024
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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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. 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. See full risk warning

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your invested capital. Be Aware: You can lose all, but not more than the balance of your Trading Account. 76% of retail investor accounts lose money when trading CFDs with this provider. These products may not be suitable for all clients, therefore ensure, that you understand the risks and seek independent advice. Should you proceed with investment in CFDs on virtual currencies, please note, that the values are highly volatile and may result in a significant loss for a short period of time. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. 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. The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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