Here are the key factors to keep in mind today for Euro trades:
- Eurozone Current Account: The Eurozone Current Account (s.a.) for December was reported at €29.9B and the Eurozone Current Account (n.s.a) was reported at €45.8B. Forex traders can compare this to the Eurozone Current Account (s.a.) for November which was reported at €35.0B and to the Eurozone Current Account (n.s.a.) which was reported at €40.1B.
- Eurozone Construction Output: Eurozone Construction Output for December increased by 0.1% monthly and by 0.5% annualized. Forex traders can compare this to Eurozone Construction Output for November which increased by 0.2% monthly and by 2.9% annualized.
Here is the key factor to keep in mind today for Japanese Yen trades:
- Japanese Trade Balance: The Japanese Trade Balance for January was reported at -¥943.4B. Economists predicted a figure of -¥1,003.6B. Forex traders can compare this to the Japanese Trade Balance for December which was reported at ¥358.7B. The Japanese Adjusted Trade Balance for January was reported at ¥373.3B. Economists predicted a figure of ¥143.9B. Forex traders can compare this to the Japanese Adjusted Trade Balance for December which was reported at ¥86.8B. Exports increased by 12.2% annualized and Imports increased by 7.9% annualized. Economists predicted an increase of 9.4% and of 7.7%. Forex traders can compare this to Exports for December which increased by 9.3% annualized and to Imports which increased by 14.9% annualized.
Should price action for the EURJPY remain inside the or breakout above the 132.000 to 132.600 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 132.300
- Take Profit Zone: 137.000 – 137.500
- Stop Loss Level: 131.150
Should price action for the EURJPY breakdown below 132.000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 131.600
- Take Profit Zone: 130.000 – 130.300
- Stop Loss Level: 132.300
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
