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

• UK GfK Consumer Confidence: UK GfK Consumer Confidence for May was reported at -10. Economists predicted a figure of -12. Forex traders can compare this to UK GfK Consumer Confidence for April which was reported at -13.
• UK Lloyds Business Barometer: The UK Lloyds Business Barometer for May was reported at 10. Forex traders can compare this to the UK Lloyds Business Barometer for April which was reported at 14.
• UK House Price Index: The UK House Price Index for May is predicted flat at 0.0% monthly and to increase by 1.2% annualized. Forex traders can compare this to the UK House Price Index for April which increased by 0.4% monthly and by 0.9% annualized.
• UK Consumer Credit and Net Lending Securities on Dwellings: UK Net Consumer Credit for April is predicted at £0.9B and Net Lending Securities on Dwellings is predicted at £3.7B. Forex traders can compare this to UK Net Consumer Credit for March which was reported at £0.5B and to Net Lending Securities on Dwellings which was reported at £4.1B.
• UK Mortgage Approvals: UK Mortgage Approvals for April are predicted at 63.5K. Forex traders can compare this to UK Mortgage Approvals for March which were reported at 62.3K.
• UK M4 Money Supply: UK M4 Money Supply for April is predicted to increase by 0.4% monthly and by 1.9% annualized. Forex traders can compare this to UK M4 Money Supply for March which decreased by 0.5% monthly and which increased by 2.2% annualized. UK M4 Money Supply excluding IOFCs 3-Month Annualized for April is predicted to increase by 1.1% annualized. Forex traders can compare this to UK M4 Money Supply excluding IOFCs 3-Month Annualized for March which increased by 0.7% annualized.

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

• Japanese Jobless Rate and Job-to-Applicant Ratio: The Japanese Jobless Rate for April was reported at 2.4% and the Job-to-Applicant Ratio at 1.63. Economists predicted a figure of 2.4% and of 1.63. Forex traders can compare this to the Japanese Jobless Rate for March which was reported at 2.5% and to the Job-to-Applicant Ratio which was reported at 1.63.
• Japanese Industrial Production: Preliminary Japanese Industrial Production for April increased by 0.6% monthly and decreased by 1.1% annualized. Economists predicted an increase of 0.2% monthly and a decrease of 1.5% annualized. Forex traders can compare this to Japanese Industrial Production for March which decreased by 0.6% monthly and by 4.3% annualized.
• Japanese Retail Trade Data: Japanese Retail Trade for April was reported flat at 0.0% monthly and increased by 0.5% annualized. Economists predicted an increase of 0.6% monthly and of 0.9% annualized. Forex traders can compare this to Japanese Retail Trade for March which increased by 0.2% monthly and by 1.0% annualized. Large Retailer’s Sales for April decreased by 1.8% monthly. Economists predicted a decrease of 0.9% monthly. Forex traders can compare this to Large Retailer’s Sales for March which increased by 0.6% monthly.
• Japanese Loans & Discounts: Japanese Loans & Discounts for April increased by 3.78% annualized. Forex traders can compare this to Japanese Loans & Discounts for March which increased by 3.59%.
• Japanese Consumer Confidence: Japanese Consumer Confidence for May was reported at 39.4. Economists predicted a figure of 40.7. Forex traders can compare this to Japanese Consumer Confidence for April which was reported at 40.4.
• Japanese Housing Starts and Construction Orders: Japanese Housing Starts for April decreased by 5.7% annualized to 0.931M units. Economists predicted a decrease of 0.8% annualized to 0.983M units. Forex traders can compare this to Japanese Housing Starts for March which increased by 10.0% annualized to 0.989M units. Construction Orders for April decreased by 19.9% annualized. Forex traders can compare this to Construction Orders for March which increased by 66.1% annualized.

Should price action for the GBPJPY remain inside the or breakout above the 136.500 to 137.850 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 137.350
• Take Profit Zone: 143.800 – 144.800
• Stop Loss Level: 136.500

Should price action for the GBPJPY breakdown below 136.500 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 136.300
• Take Profit Zone: 133.400 – 135.000
• Stop Loss Level: 137.000

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