Here is the key factor to keep in mind today for Euro trades:
- German ZEW Survey and Eurozone ZEW Survey: The German ZEW Survey Current Situation for October is predicted at 55.5 and the German ZEW Survey Economic Sentiment at 4.0. Forex traders can compare this to the German ZEW Survey Current Situation for September which was reported at 55.1 and the German ZEW Survey Economic Sentiment which was reported at 0.5. The Eurozone ZEW Survey Economic Sentiment for October is predicted at 5.7. Forex traders can compare this to the Eurozone ZEW Survey Economic Sentiment for September which was reported at 5.4.
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 August was reported at ¥2,000.8B. Economists predicted a figure of ¥1,502.7B. Forex traders can compare this to the Japanese Current Account Balance for July which was reported at ¥1,938.2B. The Japanese Adjusted Current Account Balance for August was reported at ¥1,975.5B. Economists predicted a figure of ¥1,570.3B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for July which was reported at ¥1,447.8B. The Japanese Trade Balance for August was reported at ¥243.2B. Economists predicted a figure of ¥116.5B. Forex traders can compare this to the Japanese Trade Balance for July which was reported at ¥613.9B.
- Japanese Bankruptcies: Japanese Bankruptcies for September decreased by 3.41% annualized. Forex traders can compare this to Japanese Bankruptcies for August which increased by 14.87% annualized.
- Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for September was reported at 44.8 and the Japanese Eco Watchers Survey Outlook Index was reported at 48.5. Economists predicted a figure of 45.8 and 48.0. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for August which was reported at 45.6 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 47.4.
Should price action for the EURJPY remain inside the or breakout above the 115.250 to 115.750 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 115.500
- Take Profit Zone: 119.750 – 120.250
- Stop Loss Level: 114.000
Should price action for the EURJPY breakdown below 115.250 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 115.000
- Take Profit Zone: 110.000 – 111.000
- Stop Loss Level: 115.750
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
