Here are the key factors to keep in mind today for British Pound trades:
- UK CPI: The UK CPI for March is predicted to increase by 0.2% monthly and by 2.0% annualized. Forex traders can compare this to the UK CPI for February which increased by 0.5% monthly and by 1.9% annualized. The Core CPI for March is predicted to increase by 1.9% annualized and the CPI Including Housing Costs is predicted to increase by 1.8% annualized. Forex traders can compare this to Core CPI for February which increased by 1.8% annualized and to the CPI Including Housing Costs which increased by 1.8% annualized.
- UK PPI: The UK PPI Input for March is predicted to increase by 0.5% monthly and by 4.1% annualized. Forex traders can compare this to the UK PPI Input for February which increased by 0.6% monthly and by 3.7% annualized. The UK PPI Output for March is predicted to increase by 0.3% monthly and by 2.2% annualized. Forex traders can compare this to the UK PPI Output for February which increased by 0.1% monthly and by 2.2% annualized. The UK PPI Core Output for March is predicted to increase by 0.1% monthly and by 2.2% annualized. Forex traders can compare this to the UK PPI Core Output for February which increased by 0.1% monthly and by 2.2% annualized.
- UK RPI: The UK RPI for March is predicted to increase by 0.2% monthly and by 2.6% annualized. Forex traders can compare this to the UK RPI for February which increased by 0.7% monthly and by 2.5% annualized. The UK RPI Excluding Mortgage Interest Payments for March is predicted to increase by 2.5% annualized. Forex traders can compare this to the UK RPI Excluding Mortgage Interest Payments for February which increased by 2.4% annualized.
- UK House Price Index: The UK House Price Index for February is predicted to increase by 1.3% annualized. Forex traders can compare this to the UK House Price Index for January which increased by 1.7% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Trade Balance: The Japanese Trade Balance for March was reported at ¥528.5B. Economists predicted a figure of ¥363.2B. Forex traders can compare this to the Japanese Trade Balance for February which was reported at ¥334.9B. The Japanese Adjusted Trade Balance for March was reported at -¥177.8B. Economists predicted a figure of -¥242.5B. Forex traders can compare this to the Japanese Adjusted Trade Balance for February which was reported at ¥116.1B. Exports for March decreased by 2.4% annualized and Imports increased by 1.1% annualized. Economists predicted a decrease of 2.6% and an increase of 2.8%. Forex traders can compare this to Exports for February which decreased by 1.2% annualized and to Imports which decreased by 6.6% annualized.
- Japanese Industrial Production and Capacity Utilization: Final Japanese Industrial Production for February increased by 0.7% monthly and decreased by 1.1% annualized. Forex traders can compare this to previous Japanese Industrial Production for February which increased by 1.4% monthly and which decreased by 1.0% annualized. Capacity Utilization for February increased by 1.0% monthly. Forex traders can compare this to Capacity Utilization for January which decreased by 4.7% monthly.
Should price action for the GBPJPY remain inside the or breakout above the 145.700 to 146.750 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 146.150
- Take Profit Zone: 148.850 – 149.700
- Stop Loss Level: 144.800
Should price action for the GBPJPY breakdown below 145.700 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 145.300
- Take Profit Zone: 142.500 – 143.700
- Stop Loss Level: 146.000
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