Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand Retail Sales excluding Inflation: New Zealand Retail Sales excluding Inflation for the first-quarter increased by 0.1% quarterly. Economists predicted an increase of 1.0% quarterly. Forex traders can compare this to New Zealand Retail Sales excluding Inflation for the fourth-quarter which increased by 1.7% quarterly.
- New Zealand Credit Card Spending: New Zealand Credit Card Spending for April increased by 0.6% monthly and by 7.0% annualized. Forex traders can compare this to New Zealand Credit Card Spending for March which increased by 1.1% monthly and by 7.4% annualized.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Trade Balance: The Japanese Trade Balance for April was reported at ¥626.0B. Economists predicted a figure of ¥440.0B. Forex traders can compare this to the Japanese Trade Balance for March which was reported at ¥797.0B. The Japanese Adjusted Trade Balance for April was reported at ¥550.0B. Economists predicted a figure of ¥114.9B. Forex traders can compare this to the Japanese Adjusted Trade Balance for March which was reported at ¥119.2B. Exports for April increased by 7.8% annualized and Imports increased by 5.9% annualized. Economists predicted an increase of 8.7% and of 9.8%. Forex traders can compare this to Exports for March which increased by 2.1% annualized and to Imports which decreased by 0.6% annualized.
- Japanese Condominium Sales: Japanese Condominium Sales for April decreased by 14.6% annualized. Forex traders can compare this to Japanese Condominium Sales for March which increased by 6.1% annualized.
Should price action for the NZDJPY remain inside the or breakout above the 76.500 to 76.850 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 76.700
- Take Profit Zone: 79.100 – 79.600
- Stop Loss Level: 75.600
Should price action for the NZDJPY breakdown below 76.500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 76.350
- Take Profit Zone: 74.100 – 74.450
- Stop Loss Level: 76.850
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
