Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Westpac Leading Index: The Australian Westpac Leading Index for December decreased by 0.21% monthly. Forex traders can compare this to the Australian Westpac Leading Index for November which decreased by 0.09%.
- Australian Skilled Vacancies: Australian Skilled Vacancies for December increased by 0.7% monthly. Forex traders can compare this to Australian Skilled Vacancies for November which decreased by 0.1% monthly.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Trade Balance: The Japanese Trade Balance for December was reported at -¥55.3B. Economists predicted a figure of -¥35.3B. Forex traders can compare this to the Japanese Trade Balance for November which was reported at -¥737.7B. The Japanese Adjusted Trade Balance for December was reported at -¥183.6B. Economists predicted a figure of -¥290.7B. Forex traders can compare this to the Japanese Adjusted Trade Balance for November which was reported at -¥492.2B. Exports for December decreased by 3.8% annualized and Imports increased by 1.9% annualized. Economists predicted a decrease of 1.9% and an increase of 4.0%. Forex traders can compare this to Exports for November which increased by 0.1% annualized and to Imports which increased by 12.5% annualized.
- Japanese All Industry Activity Index: The Japanese All Industry Activity Index for November decreased by 0.3% monthly. Economists predicted a decrease of 0.4% monthly. Forex traders can compare this to the Japanese All Industry Activity Index for October which increased by 2.1% monthly.
- Japanese Nationwide Department Store Sales: Japanese Nationwide Department Store Sales for December decreased by 0.7% annualized. Forex traders can compare this to Japanese Nationwide Department Store Sales for November which decreased by 0.6% annualized.
- Japanese Machine Tool Orders: Final Japanese Machine Tool Orders for December decreased by 18.3% annualized. Forex traders can compare this to previous Japanese Machine Tool Orders for December which decreased by 18.3% annualized.
Should price action for the AUDJPY remain inside the or breakdown below the 77.700 to 78.500 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 78.200
- Take Profit Zone: 75.250 – 76.000
- Stop Loss Level: 79.100
Should price action for the AUDJPY breakout above 78.500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 78.650
- Take Profit Zone: 80.000 – 80.700
- Stop Loss Level: 78.200
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
