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

• German PPI: The German PPI for October increased by 0.3% monthly and by 2.7% annualized. Economists predicted an increase of 0.3% monthly and of 2.7% annualized. Forex traders can compare this to the German PPI for September which increased by 0.3% monthly and by 3.1% annualized.
• German Coalition Talks Collapsed: German Coalition Talks Collapsed last night as the Free Democrats left due to the absence of an agreement on migration with the Green Party. This left Chancellor Merkel in charge of a caretaker government and left the Eurozone’s largest economy and the world’s fourth largest economy with the choice of either a minority government or new elections; both choices are unchartered territory for Germany.

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

• Japanese Merchandise Trade Balance: The Japanese Merchandise Trade Balance for October was reported at ¥285.4B and the Adjusted Merchandise Trade Balance at ¥322.9B. Economists predicted a figure of ¥330.0B and of ¥206.7B. Forex traders can compare this to the Merchandise Trade Balance for September which was reported at ¥670.2B and to the Adjusted Merchandise Trade Balance which was reported at ¥240.3B. Merchandise Trade Exports for October increased by 14.0% annualized and Merchandise Trade Imports increased by 18.9% annualized. Economists predicted an increase of 15.7% annualized and of 20.2% annualized. Forex traders can compare this to Merchandise Trade Exports for September which increased by 14.1% annualized and to Merchandise Trade Imports which increased by 12.0% annualized.
• Japanese Convenience Store Sales: Japanese Convenience Store Sales for October decreased by 1.8% annualized. Forex traders can compare this to Japanese Convenience Store Sales for September which were reported flat at 0.0% annualized.

Should price action for the EURJPY remain inside the or breakout above the 131.800 to 132.200 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 132.000
• Take Profit Zone: 134.450 – 134.750
• Stop Loss Level: 131.150

Should price action for the EURJPY breakdown below 131.800 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 131.600
• Take Profit Zone: 131.000 – 131.150
• Stop Loss Level: 132.000

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