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

• UK Public Sector Net Borrowing: UK Public Sector Net Borrowing for December was reported at £1.0B and UK Public Sector Net Borrowing excluding Banking Groups at £2.6B. Economists predicted a figure of £4.2B and £5.0B. Forex traders can compare this to UK Public Sector Net Borrowing for November which was reported at £6.6B and UK Public Sector Net Borrowing excluding Banking Groups which was reported at £8.3B. UK Public Finances for December were reported at £25.1B and UK Central Government Borrowing at £18.8B. Forex traders can compare this to UK Public Finances for November which was reported at £13.2B and UK Central Government Borrowing which was reported at £12.4B.
• UK CBI Business Optimism, UK CBI Trends Total Orders and CBI Trends Selling Prices: UK CBI Business Optimism for January was reported at 13. Forex traders can compare this to UK CBI Business Optimism for December which was reported at -11. UK CBI Trends Total Orders for January were reported at 14. Economists predicted a figure of 12. Forex traders can compare this to UK CBI Trends Total Orders for December which were reported at 17. UK CBI Trends Selling Prices for January were reported at 40. Forex traders can compare this to UK CBI Trends Selling Prices for December which were reported at 23.

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

• Bank of Japan Policy Rate and 10-Year Yield Target: The Bank of Japan Policy Rate was reported at -0.10% and the 10-Year Yield Target at 0.00%.Economists predicted a level of -0.10% and of 0.00%. Forex traders can compare this to the previously announced Bank of Japan Policy Rate which was reported at -0.10% and to the 10-Year Yield Target which was reported at 0.00%.
• Japanese Nationwide Department Store Sales: Japanese Nationwide Department Store Sales for December decreased by 0.6% annualized. Forex traders can compare this to Japanese Nationwide Department Store Sales for November which increased by 2.2% annualized.
• Japanese All Industry Activity Index: The Japanese All Industry Activity Index for November increased by 1.0% monthly. Economists predicted an increase of 0.8% monthly. Forex traders can compare this to the Japanese All Industry Activity Index for October which increased by 0.3% monthly.
• Japanese Machine Tool Orders: Japanese Final Machine Tool Orders for December increased by 48.3% annualized. Forex traders can compare this to previous Japanese Machine Tool Orders for December which increased by 48.3% annualized.

Should price action for the GBPJPY remain inside the or breakout above the 154.000 to 154.500 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 154.250
• Take Profit Zone: 159.950 – 160.600
• Stop Loss Level: 152.000

Should price action for the GBPJPY breakdown below 154.000 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 153.500
• Take Profit Zone: 150.200 – 151.000
• Stop Loss Level: 154.250

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