Here are the key factors to keep in mind today for US Dollar trades:
- US CPI: The US CPI for March is predicted flat at 0.0% monthly and to increase by 2.6% annualized. Forex traders can compare this to the US CPI for February which increased by 0.1% monthly and by 2.7% annualized. The US Core CPI for March is predicted to increase by 0.2% monthly and by 2.3% annualized. Forex traders can compare this to the US Core CPI for February which increased by 0.2% monthly and by 2.2% annualized.
- US Advanced Retail Sales: US Advanced Retail Sales for March are predicted to decrease by 0.1% monthly and Retail Sales Less Autos are predicted to increase by 0.1% monthly. Forex traders can compare this to US Advanced Retail Sales for February which increased by 0.1% monthly and to Retail Sales Less Autos which increased by 0.2% monthly. Retail Sales Less Autos and Gas for March are predicted to increase by 0.3% monthly and Retail Sales Control Group are predicted to increase by 0.3% monthly. Forex traders can compare this to Retail Sales Less Autos and Gas for February which increased by 0.2% monthly and to Retail Sales Control Group which increased by 0.1% monthly.
- US Business Inventories: US Business Inventories for February are predicted to increase by 0.3% monthly. Forex traders can compare this to US Business Inventories for January which increased by 0.3% monthly.
Here is the key factor to keep in mind today for Japanese Yen trades:
- Japanese Industrial Production: Final Japanese Industrial Production for February increased by 3.2% monthly and by 4.7% annualized. Forex traders can compare this to the previous Japanese Industrial Production for February which increased by 2.0% monthly and by 4.8% annualized. Capacity Utilization for February increased by 3.2% monthly. Forex traders can compare this to Capacity Utilization for January which increased by 0.1% monthly.
Should price action for the USDJPY remain inside the or breakdown below the 108.750 to 109.250 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 109.000
- Take Profit Zone: 102.600 – 104.600
- Stop Loss Level: 111.600
Should price action for the USDJPY breakout above 109.250 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 109.750
- Take Profit Zone: 114.750 – 115.500
- Stop Loss Level: 108.750
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
