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

• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of August 12th are predicted at 240K and US Continuing Claims for the week of August 5th are predicted at 1,955K. Forex traders can compare this to US Initial Jobless Claims for the week of August 5th which were reported at 244K and to US Continuing Claims for the week of July 29th which were reported at 1,951K.
• Philadelphia Fed Business Outlook: The Philadelphia Fed Business Outlook for August is predicted at 18.0. Forex traders can compare this to the Philadelphia Fed Business Outlook for July which was reported at 19.5.
• US Industrial Production and Manufacturing Production: US Industrial Production for July is predicted to increase by 0.3% monthly and Manufacturing Production is predicted to increase by 0.2% monthly. Forex traders can compare this to US Industrial Production for June which increased by 0.4% monthly and to Manufacturing Production which increased by 0.2% monthly.Capacity Utilization for July is predicted at 76.7%. Forex traders can compare this to Capacity Utilization for June which was reported at 76.6%.
• US Leading Indicators: US Leading Indicators for July are predicted to increase by 0.3%. Forex traders can compare this to US Leading Indicators for June which increased by 0.6%.

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

• Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for August 11th was reported at -¥145.5B and Japanese Buying Foreign Stocks was reported at ¥148.8B. Forex traders can compare this to Japanese Buying Foreign Bonds for August 4th which was reported at ¥1,628.0B and to Japanese Buying Foreign Stocks which was reported at ¥160.9B. Foreign Buying Japanese Bonds for August 11th was reported at ¥214.2B and Foreigners Buying Japanese Stocks which was reported at -¥302.5B. Forex traders can compare this to Foreign Buying Japanese Bonds for August 4th which was reported at ¥598.1B and to Foreigners Buying Japanese Stocks which was reported at -¥37.7B.
• Japanese Merchandise Trade Balance: The Japanese Merchandise Trade Balance for July was reported at ¥418.8B and the Adjusted Merchandise Trade Balance at ¥337.4B. Economists predicted a figure of ¥327.1B and of ¥195.3B. Forex traders can compare this to the Merchandise Trade Balance for June which was reported at ¥439.8B and to the Adjusted Merchandise Trade Balance which was reported at ¥87.3B. Merchandise Trade Exports for July increased by 13.4% annualized and Merchandise Trade Imports by 16.3% annualized. Economists predicted an increase of 13.2% annualized and of 17.1% annualized. Forex traders can compare this to Merchandise Trade Exports for June which increased by 9.7% annualized and to Merchandise Trade Imports which increased by 15.5% annualized.

Should price action for the USDJPY remain inside the or breakout above the 109.850 to 110.300 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 110.150
• Take Profit Zone: 114.000– 114.500
• Stop Loss Level: 109.150

Should price action for the USDJPY breakdown below 109.850 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 109.600
• Take Profit Zone: 108.800 – 109.150
• Stop Loss Level: 110.150

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