Market Review 20-05

Market Review 20-05

USD/JPY Forex Technical Analysis –Weekly Tone Strengthens Over 110.761, Weakens Under 109.695

The biggest concern for traders this week will continue to be U.S.-China trade relations after a CNBC report on Friday said the two economic powerhouses had called off trade talks. If true, the Dollar/Yen could weaken. Traders will also get the opportunity to respond to the Fed minutes later this week.

Bullish Scenario

A sustained move over 110.180 will indicate the presence of buyers. If this move creates enough upside momentum then look for a drive into a resistance cluster at 110.761 to 110.835. Since the main trend is down, we could see a technical bounce on the first test of this area. Taking out 110.835 could trigger an acceleration to the upside.

Bearish Scenario

A sustained move under 110.180 will signal the presence of sellers. This could trigger a pullback into the main 50% level at 109.695. The USD/JPY is likely to weaken if this level fails as support.

https://www.fxempire.com/forecasts/article/usd-jpy-forex-technical-analysis-weekly-tone-strengthens-over-110-761-weakens-under-109-695-575209

Buy above 110.16 with 110.76 as target

Short below 110.00 with 109.65 as target

Number of Lots:
Required Margin:
Risk Management (200%):
Potential Profit / Loss @ 110.76
1
€ 2,989.54
€ 5,979.07
€ 477.90
5
€ 14,947.68
€ 29,895.37
€ 2,389.50
10
€ 29,895.37
€ 59,790.73
€ 4,779.00
25
€ 74,738.42
€ 149,476.83
€ 11,947.50
50
€ 149,476.83
€ 298,953.66
€ 23,895.00

GBP/JPY technical analysis

140.00 seems immediate support to follow during the pullback, a break of which may fetch the quote back to recent lows near 139.55

Buy above 140.00 with 140.80 & 141.20 as targets

Short Below 140.00 with 139.55 & 139.00 as targets

Number of Lots:
Required Margin:
Risk Management (200%):
Potential Profit / Loss @ 141.20
1
€ 3,831.42
€ 7,662.84
€ 810.00
5
€ 19,157.09
€ 38,314.18
€ 4,050.00
10
€ 38,314.18
€ 76,628.35
€ 8,100.00
25
€ 95,785.44
€ 191,570.88
€ 20,250.00
50
€ 191,570.88
€ 383,141.76
€ 40,500.00

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