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

• German Wholesale Price Index: The German Wholesale Price Index for January decreased by 0.7% monthly and increased by 1.1% annualized. Forex traders can compare this to the German Wholesale Price Index for December which decreased by 1.2% monthly and which increased by 2.5% annualized.
• German GDP: The Preliminary German GDP for the fourth-quarter was reported flat at 0.0% quarterly and increased by 0.6% annualized. Economists predicted an increase of 0.1% quarterly and of 0.8% annualized. Forex traders can compare this to the German GDP report for the third-quarter which decreased by 0.2% quarterly and which increased by 1.1% annualized.
• Eurozone Employment: Eurozone Employment for the fourth-quarter is predicted to increase by 0.2% quarterly and by 1.3% annualized. Forex traders can compare this to Eurozone Employment for the third-quarter which increased by 0.2% quarterly and by 1.3% annualized.
• Eurozone GDP: The Preliminary Eurozone GDP for the fourth-quarter is predicted to increase by 0.2% quarterly and by 1.2% annualized. Forex traders can compare this to the Eurozone GDP for the third-quarter which increased by 0.2% quarterly and by 1.2% annualized.

Here is the key factor to keep in mind today for Japanese Yen trades:

• Japanese GDP: The Preliminary Japanese GDP for the fourth-quarter increased by 0.3% quarterly and by 1.4% annualized. Economists predicted an increase of 0.4% quarterly and of 1.4% annualized. Forex traders can compare this to the Japanese GDP for the third-quarter which decreased by 0.6% quarterly and by 2.5% annualized. The Preliminary Nominal GDP for the fourth-quarter increased by 0.3% quarterly. Economists predicted an increase of 0.4% quarterly. Forex traders can compare this to the Nominal GDP for the third-quarter which decreased by 0.7% quarterly. The Preliminary GDP Deflator for the fourth-quarter decreased by 0.3% annualized. Economists predicted a decrease of 0.4% annualized. Forex traders can compare this to the Preliminary GDP Deflator for the third-quarter which decreased by 0.3% annualized. Preliminary Private Consumption for the fourth-quarter increased by 0.6% quarterly and Preliminary Business Spending increased by 2.4% quarterly. Economists predicted an increase of 0.7% quarterly and of 1.8% quarterly. Forex traders can compare this to Private Consumption for the third-quarter which decreased by 0.2% quarterly and to Business Spending for the third-quarter which decreased by 2.8% quarterly.

Should price action for the EURJPY remain inside the or breakdown below the 124.850 to 125.550 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 125.300
• Take Profit Zone: 122.550 – 123.500
• Stop Loss Level: 125.950

Should price action for the EURJPY breakout above 125.550 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 125.700
• Take Profit Zone: 128.100 – 128.550
• Stop Loss Level: 124.850

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