Here are the key factors to keep in mind today for Euro trades:
- French Manufacturing PMI, Services PMI and Composite PMI: The Preliminary French Markit Manufacturing PMI for March is predicted at 51.4. Forex traders can compare this to the French Markit Manufacturing PMI for for February which was reported at 51.5. The Preliminary French Markit Services PMI for March is predicted at 50.6. Forex traders can compare this to the French Markit Services PMI for for February which was reported at 50.2. The Preliminary French Markit Composite PMI for March was reported at 50.7. Forex traders can compare this to the French Markit Composite PMI for for February which was reported at 50.4.
- German Manufacturing PMI, Services PMI and Composite PMI: The Preliminary German Markit Manufacturing PMI for March is predicted at 48.0. Forex traders can compare this to the German Markit Manufacturing PMI for for February which was reported at 47.6. The Preliminary German Markit Services PMI for March is predicted at 54.8. Forex traders can compare this to the German Markit Services PMI for for February which was reported at 55.3. The Preliminary German Markit Composite PMI for March is predicted at 52.7. Forex traders can compare this to the German Markit Composite PMI for for February which was reported at 52.8.
- Eurozone Manufacturing PMI, Services PMI and Composite PMI: The Preliminary Eurozone Markit Manufacturing PMI for March is predicted at 49.5. Forex traders can compare this to the Eurozone Markit Manufacturing PMI for for February which was reported at 49.3. The Preliminary Eurozone Markit Services PMI for March is predicted at 52.7. Forex traders can compare this to the Eurozone Markit Services PMI for for February which was reported at 52.8. The Preliminary Eurozone Markit Composite PMI for March is predicted at 52.0. Forex traders can compare this to the Eurozone Markit Composite PMI for for February which was reported at 51.9.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese National CPI: The Japanese National CPI for February increased by 0.2% annualized. Economists predicted an increase of 0.3% annualized. Forex traders can compare this to the Japanese National CPI for January which increased by 0.2% annualized. The Japanese National Core CPI for February increased by 0.7% annualized. Economists predicted an increase of 0.8% annualized. Forex traders can compare this to the Japanese National Core CPI for January which increased by 0.8% annualized. The Japanese National CPI Excluding Fresh Food for February increased by 0.4% annualized. Economists predicted an increase of 0.4% annualized. Forex traders can compare this to the Japanese National CPI Excluding Fresh Food for January which increased by 0.4% annualized.
- Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for the period ending March 15th was reported at -¥571.6B and Japanese Buying Foreign Stocks was reported at ¥450.9B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending March 8th which was reported at ¥254.2B and to Japanese Buying Foreign Stocks which was reported at ¥623.8B. Foreign Buying Japanese Bonds for the period ending March 15th was reported at ¥401.6B and Foreigners Buying Japanese Stocks was reported at -¥1,158.9B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending March 8th which was reported at ¥459.1B and to Foreigners Buying Japanese Stocks which was reported at -¥1,157.5B.
- Japanese Nikkei Manufacturing PMI: The Preliminary Japanese Nikkei Manufacturing PMI for March was reported at 48.9. Forex traders can compare this to the Japanese Nikkei Manufacturing PMI February which was reported at 48.9.
- Japanese Leading Index and Japanese Coincident Index: The Final Japanese Leading Index for January was reported at 96.5 and the Final Japanese Coincident Index was reported at 98.1. Forex traders can compare this to the previous Japanese Leading Index for January which was reported at 95.9 and to the previous Japanese Coincident Index which was reported at 97.9.
Should price action for the EURJPY remain inside the or breakdown below the 125.800 to 126.600 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 126.100
- Take Profit Zone: 124.250 – 125.000
- Stop Loss Level: 126.800
Should price action for the EURJPY breakout above 126.600 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 127.050
- Take Profit Zone: 128.600 – 129.250
- Stop Loss Level: 126.800
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
