Here is the key factor to keep in mind today for British Pound trades:

• UK Public Sector Net Borrowing: UK Public Sector Net Borrowing for May was reported at £6.0B and UK Public Sector Net Borrowing excluding Banking Groups at £6.7B. Economists predicted a figure of £7.2B and £6.8B. Forex traders can compare this to UK Public Sector Net Borrowing for April which was reported at £8.7B and UK Public Sector Net Borrowing excluding Banking Groups which was reported at £9.4B. UK Public Finances for May were reported at £13.4B and UK Central Government Borrowing at £9.4B. Forex traders can compare this to UK Public Finances for April which was reported at -£15.2B and UK Central Government Borrowing which was reported at -£15.2B.

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

• Japanese All Industry Activity Index: The Japanese All Industry Activity Index for April increased by 2.1% monthly. Economists predicted an increase of 1.6% monthly. Forex traders can compare this to the Japanese All Industry Activity Index for March which decreased by 0.6% monthly.
• Japanese Supermarket Sales: Japanese Supermarket Sales for May decreased by 1.8% annualized. Forex traders can compare this to Japanese Supermarket Sales for April which increased by 0.6% annualized.
• Final Japanese Machine Tool Orders: Final Japanese Machine Tool Orders for May increased by 24.5% annualized. Forex traders can compare this to initial Japanese Machine Tool Orders for May which increased by 24.4% annualized.

Should price action for the GBPJPY remain inside the or breakout above the 139.750 to 140.250 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 140.000
• Take Profit Zone: 144.500 – 145.000
• Stop Loss Level: 138.500

Should price action for the GBPJPY breakdown below 139.750 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 138.500
• Take Profit Zone: 138.000 – 138.500
• Stop Loss Level: 140.250

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