Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian HIA New Home Sales: Australian HIA New Home Sales for August increased by 6.1% monthly. Forex traders can compare this to Australian HIA New Home Sales for July which decreased by 9.7% monthly.
- Australian Private Sector Credit: Australian Private Sector Credit for August increased by 0.4% monthly and by 5.8% annualized. Economists predicted an increase of 0.5% monthly and of 5.9% annualized. Forex traders can compare this to Australian Private Sector Credit for July which increased by 0.4% monthly and by 6.0% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Jobless Rate and Job-to-Applicant Ratio: The Japanese Jobless Rate for August was reported at 3.1% and the Job-to-Applicant Ratio at 1.37. Economists predicted a figure of 3.0% and 1.37. Forex traders can compare this to the Japanese Jobless Rate for July which was reported at 3.0% and to the Job-to-Applicant Ratio which was reported at 1.37.
- Japanese Household Spending: Japanese Household Spending for August decreased by 4.6% annualized. Economists predicted a decrease of 2.1% annualized. Forex traders can compare this to Japanese Household Spending for July which decreased by 0.5% annualized.
- Japanese National CPI: The Japanese National CPI for August decreased by 0.5% annualized. Economists predicted a decrease of 0.5% annualized. Forex traders can compare this to the Japanese National CPI for July which decreased by 0.4% annualized. The Japanese National Core CPI for August increased by 0.2% annualized. Economists predicted an increase of 0.2% annualized. Forex traders can compare this to the Japanese National Core CPI for July which increased by 0.3% annualized. The Japanese National CPI Excluding Fresh Food for August decreased by 0.5% annualized. Economists predicted a decrease of 0.4% annualized. Forex traders can compare this to the Japanese National CPI Excluding Fresh Food for July which decreased by 0.5% annualized.
- Japanese Industrial Production: Preliminary Japanese Industrial Production for August increased by 1.5% monthly and by 4.6% annualized. Economists predicted an increase of 0.5% monthly and of 3.4% annualized. Forex traders can compare this to the Japanese Industrial Production for July which decreased by 0.4% monthly and by 4.2% annualized.
- Japanese Vehicle Production: Japanese Vehicle Production for August increased by 8.8% annualized. Forex traders can compare this to Japanese Vehicle Production for July which decreased by 4.1% annualized.
- Japanese Housing Starts: Japanese Housing Starts for August increased by 2.5% annualized to 0.956M units. Economists predicted an increase of 7.2% annualized to 0.999M units. Forex traders can compare this to Japanese Housing Starts for July which increased by 8.9% annualized to 1.005M units.Construction Orders increased by 13.8% annualized. Forex traders can compare this to Construction Orders for July which decreased by 10.9% annualized.
Should price action for the AUDJPY remain inside the or breakout above the 76.750 to 77.250 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 77.000
- Take Profit Zone: 85.000– 86.000
- Stop Loss Level: 75.000
Should price action for the AUDJPY breakdown below 76.750 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 76.500
- Take Profit Zone: 74.000 – 75.000
- Stop Loss Level: 77.250
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
