Here are the key factors to keep in mind today for Euro trades:

• German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for July was reported at 10.6. Economists predicted a figure of 10.4. Forex traders can compare this to the German GfK Consumer Confidence Survey for June which was reported at 10.4.
• Eurozone Confidence Data: Eurozone Economic Confidence for June is predicted at 109.5. Forex traders can compare this to Eurozone Economic Confidence for May which was reported at 109.2. Eurozone Industrial Confidence for June is predicted at 2.8. Forex traders can compare this to Eurozone Industrial Confidence for May which was reported at 2.8. Eurozone Services Confidence for June is predicted at 12.8. Forex traders can compare this to Eurozone Services Confidence for May which was reported at 13.0. Final Eurozone Consumer Confidence for June is predicted at -1.3. Forex traders can compare this to the first Eurozone Consumer Confidence for June which was reported at -1.3. The Eurozone Business Climate Indicator for June is predicted at 0.94. Forex traders can compare this to Eurozone Business Climate Indicator for May which was reported at 0.90.
• German Preliminary CPI: The German Preliminary CPI for June is predicted flat at 0.0% monthly and to increase by 1.4% annualized. Forex traders can compare this to the Preliminary German CPI for May which decreased by 0.2% monthly and which increased by 1.5% annualized.

Here are the key factors to keep in mind today for Japanese Yen trades:

• Japanese Retail Trade Data: Japanese Retail Trade for May decreased by 1.6% monthly and increased by 2.0% annualized. Economists predicted a decrease of 1.0% and an increase of 2.6%. Forex traders can compare this to Japanese Retail Trade for April which increased by 1.4% monthly and by 3.2% annualized. Large Retailer’s Sales for May decreased by 0.6% monthly. Economists predicted a decrease of 0.5% monthly. Forex traders can compare this to Large Retailer’s Sales for April which increased by 1.1% monthly.
• Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for June 23rd was reported at ¥321.8B and Japanese Buying Foreign Stocks was reported at ¥366.1B. Forex traders can compare this to Japanese Buying Foreign Bonds for June 16th which was reported at ¥1,100.2B and to Japanese Buying Foreign Stocks which was reported at ¥354.6B. Foreign Buying Japanese Bonds for June 23rd was reported at -¥1,463.9B and Foreigners Buying Japanese Stocks which was reported at -¥26.3B. Forex traders can compare this to Foreign Buying Japanese Bonds for June 16th which was reported at -¥602.3B and to Foreigners Buying Japanese Stocks which was reported at -¥317.6B.

Should price action for the EURJPY remain inside the or breakdown below the 128.400 to 128.800 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 128.600
• Take Profit Zone: 122.600 – 123.000
• Stop Loss Level: 130.600

Should price action for the EURJPY breakout above 128.800 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 129.100
• Take Profit Zone: 132.500 – 133.000
• Stop Loss Level: 128.400

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