Here is the key factor to keep in mind today for Swiss Franc trades:
- Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of May 24th were predicted at CHF580.1B and Swiss Domestic Sight Deposits are predicted at CHF489.5B. Forex traders can compare this to Swiss Total Sight Deposits for the week of May 17th which were reported at CHF578.3B and to Swiss Domestic Sight Deposits which were reported at CHF487.2B.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Leading Index and Japanese Coincident Index: The Final Japanese Leading Index for March was reported at 95.9 and the Final Japanese Coincident Index was reported at 99.4. Forex traders can compare this to the previous Japanese Leading Index for March which was reported at 96.3 and to the previous Japanese Coincident Index which was reported at 99.6.
- Chinese Industrial Profits: Chinese Industrial Profits for April decreased by 3.7% annualized. Forex traders can compare this to Chinese Industrial Profits for March which increased by 13.9% annualized.
Should price action for the CHFJPY remain inside the or breakdown below the 108.900 to 109.400 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 109.150
- Take Profit Zone: 105.550 – 106.300
- Stop Loss Level: 109.600
Should price action for the CHFJPY breakout above 109.400 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 109.750
- Take Profit Zone: 111.150 – 112.150
- Stop Loss Level: 109.150
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
