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

• French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for August is predicted at 53.5. Forex traders can compare this to the French Markit Manufacturing PMI for for July which was reported at 53.3. The Preliminary French Markit Services PMI for August is predicted at 55.1. Forex traders can compare this to the French Markit Services PMI for for July which was reported at 54.9. The Preliminary French Markit Composite PMI for August was reported at 54.6. Forex traders can compare this to the French Markit Composite PMI for for July which was reported at 54.4.
• German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for August is predicted at 56.5. Forex traders can compare this to the German Markit Manufacturing PMI for for July which was reported at 56.9. The Preliminary German Markit Services PMI for August is predicted at 54.3. Forex traders can compare this to the German Markit Services PMI for for July which was reported at 54.1. The Preliminary German Markit Composite PMI for August is predicted at 55.1. Forex traders can compare this to the German Markit Composite PMI for for July which was reported at 55.0.
• Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for August is predicted at 55.2. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for July which was reported at 55.1. The Preliminary Eurozone Markit Services PMI for August is predicted at 54.4. Forex traders can compare this to the Eurozone Markit Services PMI for for July which was reported at 54.2. The Preliminary Eurozone Markit Composite PMI for August is predicted at 54.5. Forex traders can compare this to the Eurozone Markit Composite PMI for for July which was reported at 54.3.

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 August 17th was reported at -¥1,929.4B and Japanese Buying Foreign Stocks was reported at ¥264.6B. Forex traders can compare this to Japanese Buying Foreign Bonds for August 10th which was reported at ¥123.9B and to Japanese Buying Foreign Stocks which was reported at ¥181.7B. Foreign Buying Japanese Bonds for August 17th was reported at -¥729.6B and Foreigners Buying Japanese Stocks was reported at -¥510.6B. Forex traders can compare this to Foreign Buying Japanese Bonds for August 10th which was reported at -¥58.9B and to Foreigners Buying Japanese Stocks which was reported at -¥107.1B.
• Japanese Nikkei Manufacturing PMI: The Preliminary Japanese Nikkei Manufacturing PMI for August was reported at 52.5. Forex traders can compare this to the Japanese Nikkei Manufacturing PMI July which was reported at 52.3.
• Japanese Leading Index and Japanese Coincident Index: The Final Japanese Leading Index for June was reported at 104.7 and the Final Japanese Coincident Index was reported at 116.4. Forex traders can compare this to the previous Japanese Leading Index for June which was reported at 105.2 and to the previous Japanese Coincident Index which was reported at 116.3.

Should price action for the EURJPY remain inside the or breakout above the 127.600 to 128.800 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 128.200
• Take Profit Zone: 131.450 – 131.950
• Stop Loss Level: 127.350

Should price action for the EURJPY breakdown below 127.600 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 127.100
• Take Profit Zone: 124.600 – 125.000
• Stop Loss Level: 128.200

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