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

• US Employment Cost Index: The US Employment Cost Index for the first-quarter is predicted to increase by 0.7% quarterly. Forex traders can compare this to the US Employment Cost Index for the fourth-quarter which increased by 0.6% quarterly.
• US GDP: The US GDP for the first-quarter is predicted to increase by 2.0% annualized. Forex traders can compare this to the fourth-quarter GDP which increased by 2.9% annualized. Personal Consumption is predicted to increase by 1.2% annualized. Forex traders can compare this to fourth-quarter Personal Consumption which increased by 4.0% annualized. The GDP Price Index is predicted to increase by 2.2% annualized. Forex traders can compare this to the fourth-quarter GDP Price Index which increased by 2.3% annualized. The Core PCE is predicted to increase by 2.6% annualized. Forex traders can compare this to the fourth-quarter Core PCE which increased by 1.9% annualized.
• US Michigan Consumer Sentiment: Final US Michigan Consumer Sentiment for April is predicted at 98.0. Forex traders can compare this to US Michigan Consumer Confidence for March which was reported at 97.8. Current Conditions for April are expected at 115.0 and Expectations are predicted at 86.9. Forex traders can compare this to Current Conditions for March which were reported at 115.0 and to Expectations which were reported at 86.8.

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

• Japanese Jobless Rate and Job-to-Applicant Ratio: The Japanese Jobless Rate for March was reported at 2.5% and the Job-to-Applicant Ratio at 1.59. Economists predicted a figure of 2.5% and of 1.59. Forex traders can compare this to the Japanese Jobless Rate for February which was reported at 2.5% and to the Job-to-Applicant Ratio which was reported at 1.58.
• Japanese Retail Trade Data: Japanese Retail Trade for March decreased by 0.7% monthly and increased by 1.0% annualized. Economists predicted a flat reading of 0.0% and an increase of 1.5%. Forex traders can compare this to Japanese Retail Trade for February which increased by 0.5% monthly and by 1.7% annualized. Large Retailer’s Sales for March increased by 0.1% monthly. Economists predicted an increase of 0.8% monthly. Forex traders can compare this to Large Retailer’s Sales for February which increased by 0.6% monthly.
• Japanese Industrial Production: Preliminary Japanese Industrial Production for March increased by 1.2% monthly and by 2.2% annualized. Economists predicted an increase of 0.5% monthly and of 2.0% annualized. Forex traders can compare this to Japanese Industrial Production for February which increased by 2.0% monthly and by 1.6% annualized.
• Bank of Japan Policy Rate and 10-Year Yield Target: The Bank of Japan Policy Rate was reported at -0.10% and the 10-Year Yield Target at 0.00%.Economists predicted a level of -0.10% and of 0.00%. Forex traders can compare this to the previously announced Bank of Japan Policy Rate which was reported at -0.10% and to the 10-Year Yield Target which was reported at 0.00%.
• Japanese Housing Starts and Construction Orders: Japanese Housing Starts for March decreased by 8.3% annualized to 0.895M units. Economists predicted a decrease of 4.8% annualized to 0.930M units. Forex traders can compare this to Japanese Housing Starts for February which decreased by 2.6% annualized to 0.926M units. Construction Orders for March decreased by 4.0% annualized. Forex traders can compare this to Construction Orders for February which increased by 19.2% annualized.

Should price action for the USDJPY remain inside the or breakdown below the 109.150 to 109.700 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 109.450
• Take Profit Zone: 104.600 – 105.250
• Stop Loss Level: 110.450

Should price action for the USDJPY breakout above 109.700 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 109.850
• Take Profit Zone: 111.450 – 111.850
• Stop Loss Level: 109.150

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