Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Employment Report: The Australian Employment Change for September was reported at 5.6K. Economists predicted a figure of 15.0K. Forex traders can compare this to the Australian Employment Change for August which was reported at 44.6K. The Unemployment Rate for September was reported at 5.0%. Economists predicted a reading of 5.3%. Forex traders can compare this to the Unemployment Rate for August which was reported at 5.3%. 20.3K Full-Time Positions were created and 14.7K Part-Time Positions were lost in September. Forex traders can compare this to the creation of 35.2K Full-Time Positions and the creation of 9.5K Part-Time Positions which were reported in August. The Labor Force Participation Rate for September was reported at 65.4%. Economists predicted a reading of 65.7%. Forex traders can compare this to the Labor Force Participation Rate for August which was reported at 65.7%.
- Australian NAB Business Confidence: Australian NAB Business Confidence for the third-quarter was reported at 3. Forex traders can compare this to Australian NAB Business Confidence for the second-quarter which was reported at 7.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Trade Balance: The Japanese Trade Balance for September was reported at ¥139.6B. Economists predicted a figure of -¥45.1B. Forex traders can compare this to the Japanese Trade Balance for August which was reported at -¥444.6B. The Japanese Adjusted Trade Balance for September was reported at -¥238.9B. Economists predicted a figure of -¥333.4B. Forex traders can compare this to the Japanese Adjusted Trade Balance for August which was reported at -¥190.4B. Exports for September decreased by 1.2% annualized and Imports increased by 7.0% annualized. Economists predicted an increase of 2.1% and of 13.7%. Forex traders can compare this to Exports for August which increased by 6.6% annualized and to Imports which increased by 15.4% annualized.
- Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for October 12th was reported at ¥1,016.9B and Japanese Buying Foreign Stocks was reported at ¥81.8B. Forex traders can compare this to Japanese Buying Foreign Bonds for October 5th which was reported at -¥200.5B and to Japanese Buying Foreign Stocks which was reported at ¥189.5B. Foreign Buying Japanese Bonds for October 12th was reported at -¥179.0B and Foreigners Buying Japanese Stocks was reported at ¥52.6B. Forex traders can compare this to Foreign Buying Japanese Bonds for October 5th which was reported at ¥633.3B and to Foreigners Buying Japanese Stocks which was reported at ¥1,578.4B.
Should price action for the AUDJPY remain inside the or breakout above the 80.000 to 80.600 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 80.200
- Take Profit Zone: 82.000– 82.450
- Stop Loss Level: 79.700
Should price action for the AUDJPY breakdown below 80.000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 79.650
- Take Profit Zone: 78.150 – 78.700
- Stop Loss Level: 80.200
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