Here is the key factor to keep in mind today for New Zealand Dollar trades:
- New Zealand Trade Balance: The New Zealand Trade Balance for April was reported at NZ$433M monthly and at -NZ$5,479M 12-month year-to-date. Economists predicted a figure of NZ$450M and of -NZ$5,465M. Forex traders can compare this to the New Zealand Trade Balance for March which was reported at NZ$824M monthly and at -NZ$5,713M 12-month year-to-date. Exports for April were reported at NZ$5.55B and Imports were reported at NZ$5.11B. Economists predicted a figure of NZ$5.35B and of NZ$4.90B. Forex traders can compare this to Exports for March which were reported at NZ$5.60B and to Imports which were reported at NZ$4.78B.
Here are the key factors to keep in mind today for Japanese Yen trades:
- Japanese National CPI: The Japanese National CPI for April increased by 0.9% annualized. Economists predicted an increase of 0.9% annualized. Forex traders can compare this to the Japanese National CPI for March which increased by 0.5% annualized. The Japanese National Core CPI for April increased by 0.9% annualized. Economists predicted an increase of 0.9% annualized. Forex traders can compare this to the Japanese National Core CPI for March which increased by 0.8% annualized. The Japanese National CPI Excluding Fresh Food for April increased by 0.6% annualized. Economists predicted an increase of 0.6% annualized. Forex traders can compare this to the Japanese National CPI Excluding Fresh Food for March which increased by 0.4% annualized.
- Japanese All Industry Activity Index: The Japanese All Industry Activity Index for March decreased by 0.4% monthly. Economists predicted a decrease of 0.2% monthly. Forex traders can compare this to the Japanese All Industry Activity Index for February which decreased by 0.2% monthly.
Should price action for the NZDJPY remain inside the or breakout above the 71.000 to 71.800 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 71.400
- Take Profit Zone: 73.800 – 74.550
- Stop Loss Level: 70.600
Should price action for the NZDJPY breakdown below 71.000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 70.600
- Take Profit Zone: 69.100 – 69.650
- Stop Loss Level: 71.000
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
