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 increased by 0.44% monthly. Forex traders can compare this to the Australian Westpac Leading Index for November which increased by 0.03%.
- Australian Skilled Vacancies: Australian Skilled Vacancies for December increased 0.2% monthly. Forex traders can compare this to Australian Skilled Vacancies for November which increased by 0.3%.
- Australian CPI: The Australian CPI for the fourth-quarter of 2016 increased by 0.5% quarterly and by 1.5% annualized. Economists predicted an increase of 0.7% quarterly and of 1.6% annualized. Forex traders can compare this to the Australian CPI for the third-quarter of 2016 which increased by 0.7% quarterly and by 1.3% annualized. The RBA Trimmed Mean CPI for the fourth-quarter of 2016 increased by 0.4% quarterly and by 1.6% annualized. Economists predicted an increase of 0.5% quarterly and of 1.6% annualized. Forex traders can compare this to the RBA Trimmed Mean CPI for the third-quarter of 2016 which increased by 0.4% quarterly and by 1.7% annualized. The RBA Weighted Median CPI for the fourth-quarter of 2016 increased by 0.4% quarterly and by 1.5% annualized. Economists predicted an increase of 0.5% quarterly and of 1.4% annualized. Forex traders can compare this to the RBA Weighted Median CPI for the third-quarter of 2016 which increased by 0.4% quarterly and by 1.3% annualized.
Here is the key factor to keep in mind today for Japanese Yen trades:
- Japanese Merchandise Trade Balance: The Japanese Merchandise Trade Balance for December was reported at ¥641.4B and the Adjusted Merchandise Trade Balance at ¥356.7B. Economists predicted a figure of ¥281.1B and ¥209.9B. Forex traders can compare this to the Merchandise Trade Balance for November which was reported at ¥150.8B and the Adjusted Merchandise Trade Balance which was reported at ¥466.1B. Merchandise Trade Exports for December increased by 5.4% annualized and Merchandise Trade Imports decreased by 2.6% annualized. Economists predicted an increase of 1.1% annualized and a decrease of 0.8% annualized. Forex traders can compare this to Merchandise Trade Exports for November which decreased by 0.4% annualized and Merchandise Trade Imports which decreased by 8.8% annualized.
Should price action for the AUDJPY remain inside the or breakdown below the 85.250 to 85.750 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 85.500
- Take Profit Zone: 80.000 – 81.000
- Stop Loss Level: 87.750
Should price action for the AUDJPY breakout above 85.750 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 86.250
- Take Profit Zone: 89.000 – 90.000
- Stop Loss Level: 85.250
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
