Here are the key factors to keep in mind today for Canadian Dollar trades:

• Canadian Housing Starts: Canadian Housing Starts for January are predicted at 205.0K. Forex traders can compare this to Canadian Housing Starts for December which were reported at 213.4K.
• Canadian Employment Report: The Canadian Employment Report for January is predicted to show the addition of 5,000 jobs and an Unemployment Rate of 5.7%. Forex traders can compare this to the Canadian Employment Report for December which showed the creation of 9,300 jobs and an Unemployment Rate of 5.6%. The Participation Rate for January is predicted at 65.4%. Forex traders can compare this to the Participation Rate for December which was reported at 65.4%. Hourly Earnings for Permanent Employees for January are predicted to increase by 1.6% annualized. Forex traders can compare this to Hourly Earnings for Permanent Employees for December which increased by 1.5% annualized.

Here are the key factors to keep in mind today for Japanese Yen trades:

• Japanese Household Spending: Japanese Household Spending for December increased by 0.1% annualized. Economists predicted an increase of 0.8% annualized. Forex traders can compare this to Japanese Household Spending for November which decreased by 0.6% annualized.
• Japanese Labor Cash Earnings and Japanese Real Cash Earnings: Japanese Labor Cash Earnings for December increased by 1.8% annualized and Japanese Real Cash Earnings increased by 1.4% annualized. Economists predicted an increase of 1.7% and of 1.7%. Forex traders can compare this to Japanese Labor Cash Earnings for November which increased by 1.7% annualized and to Japanese Real Cash Earnings which increased by 0.8% annualized.
• Japanese Current Account Balance and Trade Balance: The Preliminary Japanese Current Account Balance for December was reported at ¥452.8B. Economists predicted a figure of ¥469.3B. Forex traders can compare this to the Japanese Current Account Balance for November which was reported at ¥757.2B. The Preliminary Japanese Adjusted Current Account Balance for December was reported at ¥1,562.3B. Economists predicted a figure of ¥1,501.6B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for November which was reported at ¥1,438.7B. The Preliminary Japanese Trade Balance for December was reported at ¥216.2B. Economists predicted a figure of ¥132.4B. Forex traders can compare this to the Japanese Trade Balance for November which was reported at -¥559.1B.
• Japanese Housing Loans: Japanese Housing Loans for the fourth-quarter increased by 2.4% annualized. Forex traders can compare this to Japanese Housing Loans for the third-quarter which increased by 2.5% annualized.
• Japanese Bank Lending: Japanese Bank Lending including Trusts for January increased by 2.4% annualized and Japanese Bank Lending excluding Trusts increased by 2.4% annualized. Forex traders can compare this to Japanese Bank Lending including Trusts for December which increased by 2.5% annualized and to Japanese Bank Lending excluding Trusts which increased by 2.4% annualized.
• Japanese Bankruptcies: Japanese Bankruptcies for January increased by 4.88% annualized. Forex traders can compare this to Japanese Bankruptcies for December which decreased by 10.63% annualized.
• Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for January was reported at 45.6 and the Japanese Eco Watchers Survey Outlook Index was reported at 49.4. Economists predicted a figure of 48.3 and of 48.1. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for December which was reported at 46.8 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 47.9.

Should price action for the CADJPY remain inside the or breakout above the 82.250 to 82.700 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 82.350
• Take Profit Zone: 85.600– 86.250
• Stop Loss Level: 81.300

Should price action for the CADJPY breakdown below 82.250 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 81.950
• Take Profit Zone: 79.650 – 80.600
• Stop Loss Level: 82.350

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.