Here are the key factors to keep in mind today for Euro trades:
- German Retail Sales: German Retail Sales for December decreased by 4.3% monthly and by 2.1% annualized. Economists predicted a decrease of 0.5% monthly and an increase of 1.5% annualized. Forex traders can compare this to German Retail Sales for November which increased by 1.6% monthly and by 1.1% annualized.
- German Unemployment Change and German Unemployment Rate: The German Unemployment Change for January is predicted at -10K and the German Unemployment Rate at 5.0%. Forex traders can compare this to the German Unemployment Change for December which was reported at -14K and to the German Unemployment Rate which was reported at 5.0%.
- Eurozone Unemployment Rate: The Eurozone Unemployment Rate for December is predicted at 7.9%. Forex traders can compare this to the Eurozone Unemployment Rate for November which was reported at 7.9%.
- Italian GDP: The Preliminary Italian GDP for the fourth-quarter is predicted to decrease by 0.1% quarterly and to increase by 0.3% annualized. Forex traders can compare this to the Italian GDP for the third-quarter which decreased by 0.1% quarterly and which increased by 0.7% annualized.
- Eurozone GDP: The advanced Eurozone GDP for the fourth-quarter is predicted to increase by 0.2% quarterly and by 1.2% annualized. Forex traders can compare this to the Eurozone GDP for the third-quarter which increased by 0.2% quarterly and by 1.6% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Loans & Discounts: Japanese Loans & Discounts for December increased by 3.33% annualized. Forex traders can compare this to Japanese Loans & Discounts for November which increased by 3.66%.
- Japanese Industrial Production: Preliminary Japanese Industrial Production for December decreased by 0.1% monthly and by 1.9% annualized. Economists predicted a decrease of 0.5% monthly and of 2.3% annualized. Forex traders can compare this to Japanese Industrial Production for November which decreased by 1.0% monthly and which increased by 1.5% annualized.
- 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 January 25th was reported at -¥102.6B and Japanese Buying Foreign Stocks was reported at -¥189.4B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending January 18th which was reported at ¥822.9B and to Japanese Buying Foreign Stocks which was reported at -¥280.3B. Foreign Buying Japanese Bonds for the period ending January 25th was reported at ¥604.3B and Foreigners Buying Japanese Stocks was reported at ¥166.6B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending January 18th which was reported at -¥26.6B and to Foreigners Buying Japanese Stocks which was reported at -¥66.7B.
- Japanese Vehicle Production: Japanese Vehicle Production for December increased by 4.6% annualized. Forex traders can compare this to Japanese Vehicle Production for November which increased by 6.3% annualized.
- Japanese Housing Starts: Japanese Housing Starts for December increased by 2.1% annualized to 0.961M units. Economists predicted an increase of 2.0% annualized to 0.954M units. Forex traders can compare this to Japanese Housing Starts for November which decreased by 0.6% annualized to 0.957M units.
Should price action for the EURJPY remain inside the or breakdown below the 124.850 to 125.450 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 125.100
- Take Profit Zone: 122.550 – 123.400
- Stop Loss Level: 126.000
Should price action for the EURJPY breakout above 125.450 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 125.800
- Take Profit Zone: 127.850 – 128.650
- Stop Loss Level: 125.100
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