Here is the key factor to keep in mind today for Australian Dollar trades:

• Australian Private Sector Credit: Australian Private Sector Credit for July increased by 0.4% monthly and by 6.0% annualized. Economists predicted an increase of 0.4% monthly and of 6.1% annualized. Forex traders can compare this to Australian Private Sector Credit for June which increased by 0.2% monthly and by 6.2% annualized.

Here are the key factors to keep in mind today for Japanese Yen trades:

• Japanese Industrial Production: Preliminary Japanese Industrial Production for July was flat at 0.0% monthly and decreased by 3.8% annualized. Economists predicted an increase of 0.7% monthly and a decrease of 3.0% annualized. Forex traders can compare this to the Japanese Industrial Production for June which increased by 2.3% monthly and which decreased by 1.5% annualized.
• Japanese Vehicle Production: Japanese Vehicle Production for July decreased by 4.1% annualized. Forex traders can compare this to Japanese Vehicle Production for June which decreased by 1.0% annualized.
• Japanese Housing Starts: Japanese Housing Starts for July increased by 8.9% annualized to 1.005M units. Economists predicted an increase of 7.5% annualized to 0.992M units. Forex traders can compare this to Japanese Housing Starts for June which decreased by 2.5% annualized to 1.004M units. Construction Orders decreased by 10.9% annualized. Forex traders can compare this to Construction Orders for June which decreased by 2.4% annualized.
• Japanese Small Business Confidence: Japanese Small Business Confidence for August was reported at 46.3. Forex traders can compare this to Japanese Small Business Confidence for July which was reported at 47.8.

Should price action for the AUDJPY remain inside the or breakout above the 77.250 to 77.750 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 77.500
• Take Profit Zone: 85.000– 86.000
• Stop Loss Level: 75.000

Should price action for the AUDJPY breakdown below 77.250 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 76.750
• Take Profit Zone: 74.000 – 75.000
• Stop Loss Level: 77.750

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