USD/JPY

Special Reports - 28/03/2024

28 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 (CORE PCE PRICE INDEX YEAR-ON-YEAR FOR FEBRUARY- MARCH 29, 2024): The Core PCE Price Index is a key inflation metric that the Federal Reserve tracks in order to inform its interest rate policy. The Core PCE Price Index has been trending lower, reporting lower numbers since October 2023. If the Core PCE Price Index come in lower than expected, this could weaken the dollar.

JAPANESE AUTHORITIES SIGNALED READINESS TO INTERVENE IN THE CURRENCY MARKETS: Officials from Japan’s Ministry of Finance, the Bank of Japan and Financial Services Agency met on Wednesday to discuss the yen’s weakness, with finance minister Shunichi Suzuki warning that "decisive steps" would be taken against excessive currency moves. The yen’s rapid drop came amid speculations that BOJ monetary policy will stay accommodative for some time despite a recent pivot against negative rates.

USDJPY, March 28, 2024
Current Price:151.4

USD/JPY	Weekly
Trend direction	DOWN
Resistance 3	156.00
Resistance 2	155.00
Resistance 1	153.70
Support 1	149.60
Support 2	145.90
Support 3	140.60

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 $	-3,038.66	-2,378.08	-1,519.33	1,189.04	3,633.18	7,134.25
Profit or loss in €²	-2,815.43	-2,203.38	-1,407.71	1,101.69	3,366.27	6,610.13
Profit or loss in £²	-2,409.87	-1,885.98	-1,204.93	942.99	2,881.36	5,657.95
Profit or loss in C$²	-4,132.32	-3,233.99	-2,066.16	1,616.99	4,940.82	9,701.97

1. 1.00 lot is equivalent of 100.000 units

2. Calculations for exchange rate used as of 10:00 (GMT) 28/03/2024

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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