Here are the key factors to keep in mind today for Euro trades:
- German CPI: The Final German CPI for January decreased by 0.8% monthly and increased by 1.4% annualized. Economists predicted a decrease of 0.8% monthly and an increase of 1.4% annualized. Forex traders can compare this to the previous German CPI for January which decreased by 0.8% monthly and which increased by 1.4% annualized.
- French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for February is predicted at 51.0. Forex traders can compare this to the French Markit Manufacturing PMI for for January which was reported at 51.2. The Preliminary French Markit Services PMI for February is predicted at 48.5. Forex traders can compare this to the French Markit Services PMI for for January which was reported at 47.8. The Preliminary French Markit Composite PMI for February was reported at 48.8. Forex traders can compare this to the French Markit Composite PMI for for January which was reported at 48.2.
- German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for February is predicted at 49.9. Forex traders can compare this to the German Markit Manufacturing PMI for for January which was reported at 49.7. The Preliminary German Markit Services PMI for February is predicted at 52.9. Forex traders can compare this to the German Markit Services PMI for for January which was reported at 53.0. The Preliminary German Markit Composite PMI for February is predicted at 52.0. Forex traders can compare this to the German Markit Composite PMI for for January which was reported at 52.1.
- Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for February is predicted at 50.3. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for January which was reported at 50.5. The Preliminary Eurozone Markit Services PMI for February is predicted at 51.3. Forex traders can compare this to the Eurozone Markit Services PMI for for January which was reported at 51.2. The Preliminary Eurozone Markit Composite PMI for February is predicted at 51.1. Forex traders can compare this to the Eurozone Markit Composite PMI for for January which was reported at 51.0.
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 the period ending February 15th was reported at ¥193.7B and Japanese Buying Foreign Stocks was reported at -¥59.1B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending February 8th which was reported at ¥996.6B and to Japanese Buying Foreign Stocks which was reported at -¥114.4B. Foreign Buying Japanese Bonds for the period ending February 15th was reported at ¥84.3B and Foreigners Buying Japanese Stocks was reported at -¥52.9B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending February 8th which was reported at ¥882.2B and to Foreigners Buying Japanese Stocks which was reported at -¥101.9B.
- Japanese Nikkei Manufacturing PMI: The Preliminary Japanese Nikkei Manufacturing PMI for February was reported at 48.5. Forex traders can compare this to the Japanese Nikkei Manufacturing PMI January which was reported at 50.3.
- Japanese All Industry Activity Index: The Japanese All Industry Activity Index for December decreased by 0.4% monthly. Economists predicted a decrease of 0.2% monthly. Forex traders can compare this to the Japanese All Industry Activity Index for November which decreased by 0.5% monthly.
- Japanese Supermarket Sales: Japanese Supermarket Sales for January decreased by 3.4% annualized. Forex traders can compare this to Japanese Supermarket Sales for December which decreased by 0.7% annualized.
Should price action for the EURJPY remain inside the or breakdown below the 125.250 to 125.900 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 125.500
- Take Profit Zone: 122.550 – 123.500
- Stop Loss Level: 126.400
Should price action for the EURJPY breakout above 125.900 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 126.100
- Take Profit Zone: 127.600 – 128.100
- Stop Loss Level: 125.500
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