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

• German Industrial Production: German Industrial Production for July was reported flat at 0.0% monthly and increased by 4.0% annualized. Economists predicted an increase of 0.5% monthly and of 4.6% annualized. Forex traders can compare this to German Industrial Production for June which decreased by 1.1% monthly and which increased by 2.7% annualized.
• Eurozone GDP: Eurozone Final GDP for the second-quarter increased by 0.6% quarterly and by 2.3% annualized. Economists predicted an increase of 0.6% quarterly and of 2.2% annualized. Forex traders can compare this to the previous Eurozone GDO for the second-quarter which increased by 0.6% quarterly and by 2.2% annualized. Eurozone Household Consumption for the second-quarter increased by 0.5% quarterly, Eurozone Government Expenditure increased by 0.5% quarterly and Eurozone Gross Fixed Capital increased by 0.9% quarterly. Economists predicted an increase of 0.5%, of 0.5% and of 1.0%. Forex traders can compare this to Eurozone Household Consumption for the first-quarter which increased by 0.4% quarterly, to Eurozone Government Expenditure which increased by 0.2% quarterly and to Eurozone Gross Fixed Capital which decreased by 0.3% quarterly.
• ECB Rate Decision: The ECB kept its Interest Rate at 0.00%, its Deposit Facility Rate at -0.40% and its Marginal Lending Facility Rate at 0.25%; this equals no change in the ECB rate policy from the previous meeting. The Asset Purchase Target was reported at €60B, for no change from the €60B reported during the previous meeting.

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

• Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for September 1st was reported at -¥117.9B and Japanese Buying Foreign Stocks was reported at ¥161.4B. Forex traders can compare this to Japanese Buying Foreign Bonds for August 25th which was reported at ¥397.0B and to Japanese Buying Foreign Stocks which was reported at ¥217.6B. Foreign Buying Japanese Bonds for September 1st was reported at ¥1,359.2B and Foreigners Buying Japanese Stocks which was reported at -¥158.3B. Forex traders can compare this to Foreign Buying Japanese Bonds for August 25th which was reported at ¥500.2B and to Foreigners Buying Japanese Stocks which was reported at -¥246.0B.
• Japanese Leading Index and Japanese Coincident Index: The Preliminary Japanese Leading Index for July was reported at 105.0 and the Preliminary Japanese Coincident Index was reported at 115.6. Economists predicted a figure of 105.1 and of 115.8. Forex traders can compare this to the Japanese Leading Index for June which was reported at 105.7 and to the Japanese Coincident Index which was reported at 116.8.

Should price action for the EURJPY remain inside the or breakdown below the 130.000 to 130.400 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 130.200
• Take Profit Zone: 127.550 – 127.750
• Stop Loss Level: 131.500

Should price action for the EURJPY breakout above 130.400 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 130.750
• Take Profit Zone: 131.750 – 132.000
• Stop Loss Level: 130.200

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