Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of September 16th was reported at 118.0. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of September 9th which was reported at 116.2.
- Australian House Price Index: The Australian House Price Index for the second-quarter decreased by 0.7% quarterly and by 0.6% annualized. Economists predicted a decrease of 0.7% quarterly and of 0.7% annualized. Forex traders can compare this to the Australian House Price Index for the first-quarter which decreased by 0.7% quarterly and which increased by 2.0% annualized.
Here is the key factor to keep in mind today for Japanese Yen trades:
- Japanese Trade Balance: The Japanese Trade Balance for August is predicted at -¥483.2B. Forex traders can compare this to the Japanese Trade Balance for July which was reported at -¥231.9B. The Japanese Adjusted Trade Balance for August is predicted at -¥144.1B. Forex traders can compare this to the Japanese Adjusted Trade Balance for July which was reported at -¥45.6B. Exports for August are predicted to increase by 5.2% annualized and Imports are predicted to increase by 14.5% annualized. Forex traders can compare this to Exports for July which increased by 3.9% annualized and to Imports which increased by 14.6% annualized.
Should price action for the AUDJPY remain inside the or breakout above the 80.250 to 80.800 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 80.600
- Take Profit Zone: 83.450– 83.900
- Stop Loss Level: 79.500
Should price action for the AUDJPY breakdown below 80.250 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 80.100
- Take Profit Zone: 78.700 – 78.900
- Stop Loss Level: 80.600
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
