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 €18.7B. Economists predicted a figure of €20.5B. Forex traders can compare this to German Trade Balance for November which was reported at €22.7B. Exports decreased by 3.3% monthly and Imports were reported flat at 0.0% monthly. Economists predicted a decrease of 1.3% monthly and of 1.1% monthly. Forex traders can compare this to Exports for November which increased by 3.9% monthly and to Imports which increased by 3.5% monthly. The German Current Account Balance for December was reported at a €24.0B. Economists predicted a figure of €24.8B. Forex traders can compare this to the German Current Account Balance for November which was reported at €25.0B.

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 3.1% annualized. Forex traders can compare this to Japanese Housing Loans for the third-quarter which increased by 2.7% annualized.
• Japanese Machine Orders: Japanese Machine Orders for December increased by 6.7% monthly and by 6.7% annualized. Economists predicted an increase of 3.1% monthly and of 4.5% annualized. Forex traders can compare this to Japanese Machine Orders for November which decreased by 5.1% monthly and which increased by 10.4% annualized.
• Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for February 3rd was reported at -¥126.6B and Japanese Buying Foreign Stocks was reported at ¥332.8B. Forex traders can compare this to Japanese Buying Foreign Bonds for January 27th which was reported at -¥1,356.7B and to Japanese Buying Foreign Stocks which was reported at ¥127.2B. Foreign Buying Japanese Bonds for February 3rd was reported at ¥239.8B and Foreigners Buying Japanese Stocks which was reported at -¥248.0B. Forex traders can compare this to Foreign Buying Japanese Bonds for January 27th which was reported at ¥446.2B and to Foreigners Buying Japanese Stocks which was reported at -¥143.9B.
• Japanese Machine Tool Orders: Japanese Preliminary Machine Tool Orders for January increased by 3.5% annualized. Forex traders can compare this to Japanese Machine Tool Orders for December which increased by 4.4% annualized.

Should price action for the EURJPY remain inside the or breakdown below the 119.750 to 120.250 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 120.000
• Take Profit Zone: 115.750 – 116.250
• Stop Loss Level: 123.000

Should price action for the EURJPY breakout above 120.250 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 120.750
• Take Profit Zone: 123.500 – 124.000
• Stop Loss Level: 119.750

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