Here is the key factor to keep in mind today for New Zealand Dollar trades:

• New Zealand Employment Data: The Unemployment Rate for the fourth-quarter was reported at 4.5%. Economists predicted an Unemployment Rate of 4.7%. Forex traders can compare this to the Unemployment Rate for the third-quarter which was reported at 4.6%. The Unemployment Change for the fourth-quarter increased by 0.5% quarterly and by 3.7% annualized. Economists predicted an increase of 0.4% quarterly and of 3.6% annualized. Forex traders can compare this to the Unemployment Change for the third-quarter which increased by 2.2% quarterly and by 4.2% annualized. The Participation Rate for the fourth-quarter was reported at 71.0% quarterly. Economists predicted a Participation Rate of 71.0% quarterly. Forex traders can compare this to the Participation Rate for the third-quarter which was reported at 71.1% quarterly. Private Wages ex Overtime for the fourth-quarter increased by 0.4% quarterly. Economists predicted an increase of 0.5% quarterly. Forex traders can compare this to Private Wages ex Overtime for the third-quarter which increased by 0.7% quarterly. Labor Cost Private Sector for the fourth-quarter increased by 0.5% quarterly. Economists predicted an increase of 0.5% quarterly. Forex traders can compare this to Labor Cost Private Sector for the third-quarter which increased by 0.7% quarterly. Average Hourly Earnings for the fourth-quarter increased by 0.8% quarterly. Economists predicted an increase of 0.5% quarterly. Forex traders can compare this to Labor Cost Private Sector for the third-quarter which increased by 1.2% quarterly.

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

• Japanese Official Reserve Assets: Japanese Official Reserve Assets for January were reported at $1,268.5B. Forex traders can compare this to Japanese Official Reserve Assets for December which were reported at $1,264.3B.
• Japanese Labor Cash Earnings and Japanese Real Cash Earnings: Japanese Labor Cash Earnings for December increased by 0.7% annualized and Japanese Real Cash Earnings decreased by 0.5% annualized. Economists predicted an increase of 0.5% and a decrease of 0.1%. Forex traders can compare this to Japanese Labor Cash Earnings for November which increased by 0.9% annualized and to Japanese Real Cash Earnings which increased by 0.1% annualized.
• Japanese Leading Index and Japanese Coincident Index: The Preliminary Japanese Leading Index for December was reported at 107.9 and the Preliminary Japanese Coincident Index was reported at 120.7. Economists predicted a figure of 108.1 and of 120.5. Forex traders can compare this to the Japanese Leading Index for November which was reported at 108.3 and to the Japanese Coincident Index which was reported at 117.9.

Should price action for the NZDJPY remain inside the or breakdown below the 79.600 to 80.000 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 79.800
• Take Profit Zone: 76.100 – 76.300
• Stop Loss Level: 81.000

Should price action for the NZDJPY breakout above 80.000 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 80.200
• Take Profit Zone: 81.000 – 81.550
• Stop Loss Level: 79.800

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