Here is the key factor to keep in mind today for Euro trades:
- Preliminary German CPI: The Preliminary German CPI for December is predicted to increase by 0.3% monthly and by 1.9% annualized. Forex traders can compare this to the German CPI for November which increased by 0.1% monthly and by 2.3% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Jobless Rate and Job-to-Applicant Ratio: The Japanese Jobless Rate for November was reported at 2.5% and the Job-to-Applicant Ratio at 1.63. Economists predicted a figure of 2.4% and of 1.63. Forex traders can compare this to the Japanese Jobless Rate for October which was reported at 2.4% and to the Job-to-Applicant Ratio which was reported at 1.62.
- Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for December 21st was reported at -¥312.2B and Japanese Buying Foreign Stocks was reported at -¥179.6B. Forex traders can compare this to Japanese Buying Foreign Bonds for December 14th which was reported at ¥107.3B and to Japanese Buying Foreign Stocks which was reported at -¥63.0B. Foreign Buying Japanese Bonds for December 21st was reported at -¥2,205.0B and Foreigners Buying Japanese Stocks was reported at -¥496.4B. Forex traders can compare this to Foreign Buying Japanese Bonds for December 14th which was reported at ¥1,627.4B and to Foreigners Buying Japanese Stocks which was reported at -¥171.6B.
- Japanese Industrial Production: Preliminary Japanese Industrial Production for November decreased by 1.1% monthly and increased by 1.4% annualized. Economists predicted a decrease of 1.5% monthly and an increase of 0.6% annualized. Forex traders can compare this to Japanese Industrial Production for October which increased by 2.9% monthly and by 4.2% annualized.
- Japanese Retail Trade Data: Japanese Retail Trade for November increased by 1.4% monthly and decreased by 1.0% annualized. Economists predicted an increase of 2.1% and a decrease of 0.4%. Forex traders can compare this to Japanese Retail Trade for October which increased by 3.6% monthly and by 1.3% annualized. Large Retailer’s Sales for November decreased by 2.2% monthly. Economists predicted a decrease of 0.4% monthly. Forex traders can compare this to Large Retailer’s Sales for October which decreased by 0.8% monthly.
- Japanese Vehicle Production: Japanese Vehicle Production for October increased by 6.3% annualized. Forex traders can compare this to Japanese Vehicle Production for September which decreased by 5.3% annualized.
Should price action for the EURJPY remain inside the or breakout above the 126.450 to 127.050 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 126.650
- Take Profit Zone: 129.400 – 130.100
- Stop Loss Level: 125.800
Should price action for the EURJPY breakdown below 126.450 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 126.100
- Take Profit Zone: 124.600 – 125.000
- Stop Loss Level: 126.650
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