Here is the key factor to keep in mind today for Euro trades:
- German Trade Balance & German Current Account Balance: The German Trade Balance for December was reported at a €18.2B. Economists predicted a figure of €21.0B. Forex traders can compare this to German Trade Balance for November which was reported at €23.7B. Exports increased by 0.3% monthly and Imports increased by 1.4% monthly. Economists predicted a decrease of 1.0% monthly and of 0.8% monthly. Forex traders can compare this to Exports for November which increased by 4.1% monthly and to Imports which increased by 2.3% monthly. The German Current Account Balance for December was reported at a €27.8B. Economists predicted a figure of €25.0B. Forex traders can compare this to the German Current Account Balance for November which was reported at €25.4B.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Housing Loans: Japanese Housing Loans for the fourth-quarter increased by 2.9% annualized. Forex traders can compare this to Japanese Housing Loans for the third-quarter which increased by 3.0% annualized.
- Japanese Current Account Balance and Trade Balance: The Japanese Current Account Balance for December was reported at ¥797.2B. Economists predicted a figure of ¥1,056.9B. Forex traders can compare this to the Japanese Current Account Balance for November which was reported at ¥1,347.3B. The Japanese Adjusted Current Account Balance for December was reported at ¥1,479.6B. Economists predicted a figure of ¥1,660.0B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for November which was reported at ¥1,700.5B. The Japanese Trade Balance for December was reported at ¥538.9B. Economists predicted a figure of ¥520.4B. Forex traders can compare this to the Japanese Trade Balance for November which was reported at ¥181.0B.
- Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for February 2nd was reported at -¥866.6B and Japanese Buying Foreign Stocks was reported at ¥466.5B. Forex traders can compare this to Japanese Buying Foreign Bonds for January 26th which was reported at ¥16.4B and to Japanese Buying Foreign Stocks which was reported at ¥374.5B. Foreign Buying Japanese Bonds for February 2nd was reported at -¥353.1B and Foreigners Buying Japanese Stocks was reported at -¥126.7B. Forex traders can compare this to Foreign Buying Japanese Bonds for January 26th which was reported at -¥253.8B and to Foreigners Buying Japanese Stocks which was reported at -¥171.8B.
- Japanese Bank Lending: Japanese Bank Lending including Trusts for January increased by 2.4% annualized and Japanese Bank Lending excluding Trusts increased by 2.3% annualized. Forex traders can compare this to Japanese Bank Lending including Trusts for December which increased by 2.5% annualized and to Japanese Bank Lending excluding Trusts which increased by 2.4% annualized.
- Japanese Bankruptcies: Japanese Bankruptcies for January increased by 4.95% annualized. Forex traders can compare this to Japanese Bankruptcies for December which decreased by 1.97% annualized.
- Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for January was reported at 49.9 and the Japanese Eco Watchers Survey Outlook Index was reported at 52.4. Economists predicted a figure of 53.7 and of 53.6. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for December which was reported at 53.9 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 52.7.
Should price action for the EURJPY remain inside the or breakout above the 134.000 to 134.500 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 134.250
- Take Profit Zone: 137.500 – 138.000
- Stop Loss Level: 133.000
Should price action for the EURJPY breakdown below 134.000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 133.800
- Take Profit Zone: 131.150 – 131.700
- Stop Loss Level: 134.250
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