Here is the key factor to keep in mind today for Australian Dollar trades:
- Australian Home Loans and Investment Lending: Australian Home Loans for September decreased by 2.3% monthly. Economists predicted an increase of 2.0% monthly. Forex traders can compare this to Australian Home Loans for August which increased by 1.5% monthly. Australian Investment Lending for September decreased by 6.3% monthly and the Value of Loans decreased by 2.1% monthly. Forex traders can compare this to Australian Investment Lending for August which increased by 4.8% monthly and to the Value of Loans which increased by 0.4% monthly.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for November 3rd was reported at -¥729.7B and Japanese Buying Foreign Stocks was reported at ¥169.7B. Forex traders can compare this to Japanese Buying Foreign Bonds for October 27th which was reported at -¥1,084.8B and to Japanese Buying Foreign Stocks which was reported at ¥369.5B. Foreign Buying Japanese Bonds for November 3rd was reported at ¥90.4B and Foreigners Buying Japanese Stocks was reported at -¥12.4B. Forex traders can compare this to Foreign Buying Japanese Bonds for October 27th which was reported at ¥76.7B and to Foreigners Buying Japanese Stocks which was reported at ¥696.4B.
- Japanese Machine Orders: Japanese Machine Orders for September decreased by 8.1% monthly and by 3.5% annualized. Economists predicted a decrease of 2.0% monthly and an increase of 2.0% annualized. Forex traders can compare this to Japanese Machine Orders for August which increased by 3.4% monthly and by 4.4% annualized.
- Japanese Current Account Balance and Trade Balance: The Japanese Current Account Balance for September was reported at ¥2,271.2B. Economists predicted a figure of ¥2,363.4B. Forex traders can compare this to the Japanese Current Account Balance for August which was reported at ¥2,380.4B. The Japanese Adjusted Current Account Balance for September was reported at ¥1,835.1B. Economists predicted a figure of ¥2,053.3B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for August which was reported at ¥2,266.9B. The Japanese Trade Balance for September was reported at ¥852.2B. Economists predicted a figure of ¥832.5B. Forex traders can compare this to the Japanese Trade Balance for August which was reported at ¥318.7B.
- Japanese Bank Lending: Japanese Bank Lending including Trusts for October increased by 2.8% annualized and Japanese Bank Lending excluding Trusts increased by 2.8% annualized. Economists predicted an increase of 3.0% and of 3.0%. Forex traders can compare this to Japanese Bank Lending including Trusts for September which increased by 2.9% annualized and to Japanese Bank Lending excluding Trusts which increased by 3.0% annualized.
- Japanese Bankruptcies: Japanese Bankruptcies for October increased by 7.32% annualized. Forex traders can compare this to Japanese Bankruptcies for September which increased by 4.62% annualized.
- Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for October was reported at 52.2 and the Japanese Eco Watchers Survey Outlook Index was reported at 54.9. Economists predicted a figure of 50.8 and 51.5. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for September which was reported at 51.3 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 51.0.
Should price action for the AUDJPY remain inside the or breakout above the 87.100 to 87.400 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 87.250
- Take Profit Zone: 89.000– 89.250
- Stop Loss Level: 86.700
Should price action for the AUDJPY breakdown below 87.100 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 86.900
- Take Profit Zone: 86.000 – 86.250
- Stop Loss Level: 87.250
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