Here is the key factor to keep in mind today for New Zealand Dollar trades:
- New Zealand Card Spending: New Zealand Retail Card Spending for October increased by 0.1% monthly and New Zealand Card Spending decreased by 0.1% monthly. Forex traders can compare this to New Zealand Retail Card Spending for September which increased by 1.1% monthly and to New Zealand Card Spending which increased by 1.2% monthly.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese Domestic Corporate Goods Price Index: The Japanese Domestic Corporate Goods Price Index for October increased by 0.3% monthly and by 2.9% annualized. Economists predicted an increase of 0.1% monthly and of 2.8% annualized. Forex traders can compare this to the Japanese Domestic Corporate Goods Price Index for September which increased by 0.3% monthly and by 3.0% annualized.
- Japanese Loans & Discounts: Japanese Loans & Discounts for September increased by 3.53% annualized. Forex traders can compare this to Japanese Loans & Discounts for August which increased by 3.35%.
- Japanese Machine Tool Orders: Japanese Preliminary Machine Tool Orders for October decreased by 1.1% annualized. Forex traders can compare this to Japanese Machine Tool Orders for September which increased by 2.9% annualized.
Should price action for the NZDJPY remain inside the or breakdown below the 76.250 to 76.950 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 76.500
- Take Profit Zone: 74.400 – 74.800
- Stop Loss Level: 77.250
Should price action for the NZDJPY breakout above 76.950 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 77.100
- Take Profit Zone: 78.800 – 79.100
- Stop Loss Level: 76.500
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
