Source: PaxForex Premium Analytics Portal, Fundamental Insight
The Japanese Jobless Rate for August was reported at 2.8%, and the Job-to-Applicant Ratio at 1.14. Economists predicted a figure of 2.9% and 1.14. Forex traders can compare this to the Japanese Jobless Rate for July, reported at 2.8%, and the Job-to-Applicant Ratio, reported at 1.15.
The Tankan Large Manufacturers Index for the third quarter was reported at 18. Economists predicted a figure of 13. Forex traders can compare this to the Tankan Large Manufacturers Index for the second quarter, reported at 14. The Tankan Large Manufacturers Outlook for the third quarter was reported at 14. Economists predicted a figure of 15. Forex traders can compare this to the Tankan Large Manufacturers Outlook for the second quarter, reported at 13. The Tankan Large Non-Manufacturers Index for the third quarter was reported at 2. Economists predicted a figure of 3. Forex traders can compare this to the Tankan Large Non-Manufacturers Index for the second quarter, reported at 1. The Tankan Large Non-Manufacturers Outlook for the third quarter was reported at 3. Economists predicted a figure of 5. Forex traders can compare this to the Tankan Large Non-Manufacturers Outlook for the second quarter, reported at 3. The Tankan Small Manufacturers Index for the third quarter was reported at -3. Economists predicted a figure of -9. Forex traders can compare this to the Tankan Small Manufacturers Index for the second quarter, reported at -7. The Tankan Small Manufacturers Outlook for the third quarter was reported at -4. Economists predicted a figure of -6. Forex traders can compare this to the Tankan Small Manufacturers Outlook for the second quarter, reported at -6. The Tankan Small Non-Manufacturers Index for the third quarter was reported at -10. Economists predicted a figure of -11. Forex traders can compare this to the Tankan Small Non-Manufacturers Index for the second quarter, reported at -9. The Tankan Small Non-Manufacturers Outlook for the third quarter was reported at -13. Economists predicted a figure of -9. Forex traders can compare this to the Tankan Small Non-Manufacturers Outlook for the second quarter, reported at -12. The Japanese Tankan Large All Industry Capex Index for the third quarter increased 10.1% quarterly. Economists predicted an increase of 9.1% quarterly. Forex traders can compare this to the Japanese Tankan Large All Industry Capex Index for the second quarter, which increased 9.6% quarterly. The Japanese Tankan Small All Industry Capex Index for the third quarter increased 4.7% quarterly. Economists predicted an increase of 1.6% quarterly. Forex traders can compare this to the Japanese Tankan Small All Industry Capex Index for the second quarter, which increased 0.9% quarterly.
The Final Japanese Manufacturing PMI for September was reported at 51.5. Forex traders can compare this to the Japanese Manufacturing PMI for August, reported at 52.7. Japanese Household Confidence for September was reported at 37.8. Forex traders can compare this to Japanese Household Confidence for August, reported at 36.7.
The Swiss Manufacturing PMI for September is predicted at 65.5. Forex traders can compare this to the Swiss Manufacturing PMI for August, reported at 67.7.
The forecast for the CHF/JPY remains bearish as this currency pair remains below its descending Ichimoku Kinko Hyo Cloud. A breakout attempt was rejected, which added to bearish pressures. While the Kijun-sen turned sideways, the Tenkan-sen drifts higher, and traders should monitor a potential false bullish crossover before the next wave of sell orders forces a reversal. The CCI briefly moved into extreme overbought territory before reversing. It has plenty of downside potential ahead. Can bears capitalize on recent developments and pressure the CHF/JPY into its horizontal support area? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.
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Should price action for the CHF/JPY remain inside the or breakdown below the 119.050 to 119.550 zone, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 119.350
- Take Profit Zone: 117.550 – 117.900
- Stop Loss Level: 119.900
Should price action for the CHF/JPY breakout above 119.550, PaxForex recommends the following trade set-up:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 119.900
- Take Profit Zone: 120.700 – 121.200
- Stop Loss Level: 119.550
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