Here are the key factors to keep in mind today for US Dollar trades:

• US NFIB Small Business Optimism Index: The US NFIB Small Business Optimism Index for April is predicted at 102.0. Forex traders can compare this to the NFIB Small Business Optimism Index for March which was reported at 101.8.
• US Import and Export Price Index: The US Import Price Index for April is predicted to increase by 0.7% monthly and by 0.3% annualized. Forex traders can compare this to the US Import Price Index for March which increased by 0.6% monthly and which was reported flat at 0.0% annualized. The US Import Price Index excluding Petroleum for April is predicted to increase by 0.1% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for March which increased by 0.2% monthly. The US Export Price Index for April is predicted to increase by 0.5% monthly and by 0.6% annualized. Forex traders can compare this to the US Export Price Index for March which increased by 0.7% monthly and by 0.6% annualized.

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

• Japanese Current Account Balance and Trade Balance: The Preliminary Japanese Current Account Balance for March was reported at ¥2,847.9B. Economists predicted a figure of ¥3,007.2B. Forex traders can compare this to the Japanese Current Account Balance for February which was reported at ¥2,676.8B. The Preliminary Japanese Adjusted Current Account Balance for March was reported at ¥1,271.0B. Economists predicted a figure of ¥1,710.9B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for February which was reported at ¥1,896.7B. The Preliminary Japanese Trade Balance for March was reported at ¥700.1B. Economists predicted a figure of ¥838.9B. Forex traders can compare this to the Japanese Trade Balance for February which was reported at ¥489.2B.
• Japanese Bank Lending: Japanese Bank Lending including Trusts for April increased by 2.4% annualized and Japanese Bank Lending excluding Trusts increased by 2.5% annualized. Forex traders can compare this to Japanese Bank Lending including Trusts for March which increased by 2.3% annualized and to Japanese Bank Lending excluding Trusts which increased by 2.5% annualized.
• Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for April was reported at 45.3 and the Japanese Eco Watchers Survey Outlook Index was reported at 48.4. Economists predicted a figure of 45.8 and of 48.0. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for March which was reported at 44.8 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 48.6.

Should price action for the USDJPY remain inside the or breakdown below the 109.150 to 110.000 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 109.600
• Take Profit Zone: 107.500 – 108.000
• Stop Loss Level: 110.250

Should price action for the USDJPY breakout above 110.000 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 110.300
• Take Profit Zone: 112.100 – 112.400
• Stop Loss Level: 109.600

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