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

• German GDP: The Final German GDP for the fourth-quarter increased by 0.6% quarterly and by 2.3% annualized. Economists predicted an increase of 0.6% quarterly and of 2.3% annualized. Forex traders can compare this to the previous fourth-quarter German GDP report which increased by 0.6% quarterly and by 2.2% annualized. Exports increased by 2.7% and Imports increased by 2.0%. Economists predicted an increase of 2.2% and of 1.4%. Forex traders can compare this to previous fourth-quarter Exports which increased by 1.8% and to Imports which increased by 1.1%. German Private Consumption was reported flat at 0.0% and German Domestic Demand increased by 0.1%. Economists predicted an increase of 0.1% and of 0.2%. Forex traders can compare this to previous fourth-quarter German Private Consumption which decreased by 0.2% and to German Domestic Demand which increased by 0.4%. German Government Spending increased by 0.5%. Economists predicted an increase of 0.4%. Forex traders can compare this to previous fourth-quarter German Government Spending which increased by 0.5%. German Capital Investment was reported flat at 0.0% and German Construction Investment decreased by 0.2%. Economists predicted an increase of 0.4% and a decrease of 0.2%. Forex traders can compare this to previous fourth-quarter German Capital Investment which increased by 0.4% and to German Construction Investment which decreased by 0.4%.
• Eurozone Final CPI and Eurozone Final Core CPI: The Eurozone CPI for January is predicted to decrease by 0.9% monthly. Forex traders can compare this to the Eurozone CPI for December which increased by 0.4% monthly. The Final Eurozone CPI for January is predicted to increase by 1.3% annualized and the Final Eurozone Core CPI is predicted to increase by 1.0% annualized. Forex traders can compare this to the previous Eurozone CPI for January which increased by 1.4% annualized and to the previous Eurozone Core CPI which increased by 1.0% annualized.

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

• Japanese National CPI: The Japanese National CPI for January increased by 1.4% annualized. Economists predicted an increase of 1.3% annualized. Forex traders can compare this to the Japanese National CPI for December which increased by 1.0% annualized. The Japanese National Core CPI for January increased by 0.4% annualized. Economists predicted an increase of 0.3% annualized. Forex traders can compare this to the Japanese National Core CPI for December which increased by 0.3% annualized. The Japanese National CPI Excluding Fresh Food for January increased by 0.9% annualized. Economists predicted an increase of 0.8% annualized. Forex traders can compare this to the Japanese National CPI Excluding Fresh Food for December which increased by 0.9% annualized.

Should price action for the EURJPY remain inside the or breakout above the 131.500 to 132.200 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 131.750
• Take Profit Zone: 137.000 – 137.500
• Stop Loss Level: 131.150

Should price action for the EURJPY breakdown below 131.500 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 131.300
• Take Profit Zone: 127.550 – 128.000
• Stop Loss Level: 132.000

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