Here are the key factors to keep in mind today for Swiss Franc trades:
- Swiss Trade Balance: The Swiss Trade Balance for November was reported at CHF2.63B. Forex traders can compare this to the Swiss Trade Balance for October which was reported at CHF2.33B. Exports for November increased by 0.8% monthly and Imports increased by 2.3% monthly. Forex traders can compare this to Exports for October which decreased by 1.6% monthly and to Imports which increased by 0.2% monthly.
- Swiss Money Supply M3: Swiss Money Supply M3 for November increased by 4.4% annualized. Forex traders can compare this to Swiss Money Supply M3 for October which increased by 4.2% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for December 15th was reported at ¥51.0B and Japanese Buying Foreign Stocks was reported at ¥273.9B. Forex traders can compare this to Japanese Buying Foreign Bonds for December 8th which was reported at -¥490.2B and to Japanese Buying Foreign Stocks which was reported at ¥376.3B. Foreign Buying Japanese Bonds for December 15th was reported at ¥548.7B and Foreigners Buying Japanese Stocks was reported at -¥622.5B. Forex traders can compare this to Foreign Buying Japanese Bonds for December 8th which was reported at ¥844.2B and to Foreigners Buying Japanese Stocks which was reported at -¥155.3B.
- Bank of Japan Policy Rate and 10-Year Yield Target: The Bank of Japan Policy Rate was reported at -0.10% and the 10-Year Yield Target at 0.00%.Economists predicted a level of -0.10% and of 0.00%. Forex traders can compare this to the previously announced Bank of Japan Policy Rate which was reported at -0.10% and to the 10-Year Yield Target which was reported at 0.00%.
- Japanese Supermarket Sales and Japanese Nationwide Department Store Sales: Japanese Supermarket Sales for November decreased by 0.6% annualized. Forex traders can compare this to Japanese Supermarket Sales for October which decreased by 1.9% annualized. Japanese Nationwide Department Store Sales for November increased by 2.2% annualized. Forex traders can compare this to Japanese Nationwide Department Store Sales for October which decreased by 1.8% annualized.
Should price action for the CHFJPY remain inside the or breakout above the 114.750 to 115.250 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 115.000
- Take Profit Zone: 118.150– 118.600
- Stop Loss Level: 113.600
Should price action for the CHFJPY breakdown below 114.750 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 114.250
- Take Profit Zone: 112.700 – 113.000
- Stop Loss Level: 114.750
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