Here is the key factor to keep in mind today for Australian Dollar trades:
- Australian Credit Card Purchases and Australian Credit Card Balances: Australian Credit Card Purchases for September were reported at A$25.3B and Australian Credit Card Balances at A$51.4B. Forex traders can compare this to Australian Credit Card Purchases for August which were reported at A$26.8B and to Australian Credit Card Balances which were reported at A$51.3B.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese GDP: The Preliminary Japanese GDP for the third-quarter increased by 0.5% quarterly and by 2.2% annualized. Economists predicted an increase of 0.2% quarterly and of 0.8% annualized. Forex traders can compare this to the Japanese GDP for the second-quarter which increased by 0.2% quarterly and by 0.7% annualized. The Preliminary Nominal GDP for the third-quarter increased by 0.2% quarterly. Economists predicted a decrease of 0.1% quarterly. Forex traders can compare this to the Nominal GDP for the second-quarter which increased by 0.3% quarterly. The Preliminary GDP Deflator for the third-quarter decreased by 0.1% annualized. Economists predicted an increase of 0.3% annualized. Forex traders can compare this to the Preliminary GDP Deflator for the second-quarter which increased by 0.7% annualized. Preliminary Private Consumption for the third-quarter increased by 0.1% quarterly and Preliminary Business Spending was reported flat at 0.0% quarterly. Economists predicted a flat reading of 0.0% quarterly and an increase of 0.2% quarterly. Forex traders can compare this to Private Consumption for the second-quarter which increased by 0.2% quarterly and to Business Spending for the second-quarter which decreased by 0.1% quarterly.
- Japanese Industrial Production and Capacity Utilization: Final Japanese Industrial Production for September increased by 0.6% monthly and by 1.5% annualized. Forex traders can compare this to the previous Japanese Industrial Production for September which was reported flat at 0.0% monthly and which increased by 0.9% annualized. Final Capacity Utilization for September decreased by 2.0% monthly. Forex traders can compare this to previous Capacity Utilization for September which increased by 2.6% monthly.
Should price action for the AUDJPY remain inside the or breakdown below the 81.250 to 81.750 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 81.500
- Take Profit Zone: 75.500 – 76.000
- Stop Loss Level: 82.7500
Should price action for the AUDJPY breakout above 81.750 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 82.000
- Take Profit Zone: 83.500 – 84.000
- Stop Loss Level: 81.250
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
