Here are the key factors to keep in mind today for Euro trades:
- German Trade Balance & German Current Account Balance: The German Trade Balance for February was reported at a €17.9B. Economists predicted a figure of €16.0B. Forex traders can compare this to German Trade Balance for January which was reported at €14.6B. Exports for February decreased by 1.3% monthly and Imports decreased by 1.6% monthly. Economists predicted a decrease of 0.4% monthly and of 0.7% monthly. Forex traders can compare this to Exports for January which increased by 0.1% monthly and to Imports which increased by 1.4% monthly. The German Current Account Balance for February was reported at a €16.3B. Economists predicted a figure of €19.0B. Forex traders can compare this to the German Current Account Balance for January which was reported at €18.8B.
- Eurozone Sentix Investor Confidence: Eurozone Sentix Investor Confidence for April is predicted at -2.0. Forex traders can compare this to Eurozone Sentix Investor Confidence for March which was reported at -2.2.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Current Account Balance and Trade Balance: The Preliminary Japanese Current Account Balance for February was reported at ¥2,676.8B. Economists predicted a figure of ¥2,633.5B. Forex traders can compare this to the Japanese Current Account Balance for January which was reported at ¥600.4B. The Preliminary Japanese Adjusted Current Account Balance for February was reported at ¥1,957.6B. Economists predicted a figure of ¥1,920.9B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for January which was reported at ¥1,833.0B. The Preliminary Japanese Trade Balance for February was reported at ¥489.2B. Economists predicted a figure of ¥591.3B. Forex traders can compare this to the Japanese Trade Balance for January which was reported at -¥964.8B.
- Japanese Bankruptcies: Japanese Bankruptcies for March decreased by 16.09% annualized. Forex traders can compare this to Japanese Bankruptcies for February which decreased by 4.53% annualized.
- Japanese Consumer Confidence: Japanese Consumer Confidence for March was reported at 40.5. Economists predicted a figure of 41.5. Forex traders can compare this to Japanese Consumer Confidence for February which was reported at 41.5.
- Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for March was reported at 44.8 and the Japanese Eco Watchers Survey Outlook Index was reported at 48.6. Economists predicted a figure of 47.6 and of 49.2. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for February which was reported at 47.5 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 48.9.
Should price action for the EURJPY remain inside the or breakdown below the 124.800 to 125.500 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 125.100
- Take Profit Zone: 122.550 – 123.400
- Stop Loss Level: 126.150
Should price action for the EURJPY breakout above 125.500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 125.750
- Take Profit Zone: 126.950 – 127.500
- Stop Loss Level: 125.100
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
