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

• German Factory Orders: German Factory Orders for January decreased by 3.9% monthly and increased by 8.2% annualized. Economists predicted a decrease of 1.6% monthly and an increase of 11.4% annualized. Forex traders can compare this to German Factory Orders for December which increased by 3.0% monthly and by 7.9% annualized.
• ECB Rate Decision: The ECB is predicted to keep its Interest Rate at 0.00%, its Deposit Facility Rate at -0.40% and its Marginal Lending Facility Rate at 0.25%; this would equal no change in the ECB rate policy from the previous meeting where the interest rate was kept unchanged at 0.00%, the Deposit Facility Rate kept unchanged at -0.40% and the Marginal Lending Facility Rate kept unchanged at 0.25%.

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

• Japanese Current Account Balance and Trade Balance: The Japanese Current Account Balance for January was reported at ¥607.4B. Economists predicted a figure of ¥437.4B. Forex traders can compare this to the Japanese Current Account Balance for December which was reported at ¥797.2B. The Japanese Adjusted Current Account Balance for January was reported at ¥2,022.6B. Economists predicted a figure of ¥1,761.9B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for December which was reported at ¥1,677.6B. The Japanese Trade Balance for January was reported at -¥666.6B. Economists predicted a figure of -¥695.5B. Forex traders can compare this to the Japanese Trade Balance for December which was reported at ¥538.9B.
• Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for March 2nd was reported at -¥1,188.5B and Japanese Buying Foreign Stocks was reported at ¥201.5B. Forex traders can compare this to Japanese Buying Foreign Bonds for February 23rd which was reported at ¥205.4B and to Japanese Buying Foreign Stocks which was reported at ¥44.5B. Foreign Buying Japanese Bonds for March 2nd was reported at ¥1,264.8B and Foreigners Buying Japanese Stocks was reported at -¥463.4B. Forex traders can compare this to Foreign Buying Japanese Bonds for February 23rd which was reported at -¥25.0B and to Foreigners Buying Japanese Stocks which was reported at -¥53.7B.
• Japanese GDP: The Final Japanese GDP for the fourth-quarter increased by 0.4% quarterly and by 1.6% annualized. Economists predicted an increase of 0.2% quarterly and of 1.4% annualized. Forex traders can compare this to the previous Japanese GDP for the fourth-quarter which increased by 0.1% quarterly and by 0.5% annualized. The Final Nominal GDP for the fourth-quarter increased by 0.3% quarterly. Economists predicted an increase of 0.1% quarterly. Forex traders can compare this to the previous Nominal GDP for the fourth-quarter which was reported flat at 0.0% quarterly. The Final GDP Deflator for the fourth-quarter increased by 0.1% annualized. Economists predicted a flat reading of 0.0% annualized. Forex traders can compare this to the previous GDP Deflator for the fourth-quarter which was reported flat at 0.0% annualized. Final Private Consumption for the fourth-quarter increased by 0.5% quarterly and Final Business Spending increased by 1.0% quarterly. Economists predicted an increase of 0.5% quarterly and of 1.3% quarterly. Forex traders can compare this to previous Private Consumption for the fourth-quarter which increased by 0.5% quarterly and to previous Business Spending for the fourth-quarter which increased by 0.7% quarterly.
• Japanese Bank Lending: Japanese Bank Lending including Trusts for February increased by 2.1% annualized and Japanese Bank Lending excluding Trusts increased by 2.1% annualized. Economists predicted an increase of 2.3% and of 2.3%. Forex traders can compare this to Japanese Bank Lending including Trusts for January which increased by 2.3% annualized and to Japanese Bank Lending excluding Trusts which increased by 2.3% annualized.
• Japanese Bankruptcies: Japanese Bankruptcies for February decreased by 10.31% annualized. Forex traders can compare this to Japanese Bankruptcies for January which increased by 4.95% annualized.
• Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for February was reported at 48.6 and the Japanese Eco Watchers Survey Outlook Index was reported at 51.4. Economists predicted a figure of 50.5 and of 51.7. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for January which was reported at 49.9 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 52.4.

Should price action for the EURJPY remain inside the or breakout above the 131.200 to 131.800 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 131.500
• Take Profit Zone: 136.950 – 137.500
• Stop Loss Level: 129.300

Should price action for the EURJPY breakdown below 131.200 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 130.950
• Take Profit Zone: 128.950 – 129.300
• Stop Loss Level: 131.500

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