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

• US Empire Manufacturing Index: The US Empire Manufacturing Index for December is predicted at 18.0. Forex traders can compare this to the US Empire Manufacturing Index for November which was reported at 19.4.
• US Industrial Production and Manufacturing Production: US Industrial Production for November 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 October which increased by 0.9% monthly and to Manufacturing Production which increased by 1.3% monthly.Capacity Utilization for November is predicted at 77.2%. Forex traders can compare this to Capacity Utilization for October which was reported at 77.0%.

Here is the key factor to keep in mind today for Japanese Yen trades:

• Japanese Tankan Survey: The Tankan Large Manufacturers Index for the fourth-quarter was reported at 25. Economists predicted a figure of 24. Forex traders can compare this to the Tankan Large Manufacturers Index for the third-quarter which was reported at 22. The Tankan Large Manufacturers Outlook for the fourth-quarter was reported at 19. Economists predicted a figure of 22. Forex traders can compare this to the Tankan Large Manufacturers Outlook for the third-quarter which was reported at 19. The Tankan Large Non-Manufacturers Index for the fourth-quarter was reported at 23. Economists predicted a figure of 24. Forex traders can compare this to the Tankan Large Non-Manufacturers Index for the third-quarter which was reported at 23. The Tankan Large Non-Manufacturers Outlook for the fourth-quarter was reported at 20. Economists predicted a figure of 21. Forex traders can compare this to the Tankan Large Non-Manufacturers Outlook for the third-quarter which was reported at 19. The Tankan Small Manufacturers Index for the fourth-quarter was reported at 15. Economists predicted a figure of 11. Forex traders can compare this to the Tankan Small Manufacturers Index for the third-quarter which was reported at 10. The Tankan Small Manufacturers Outlook for the fourth-quarter was reported at 11. Economists predicted a figure of 9. Forex traders can compare this to the Tankan Small Manufacturers Outlook for the third-quarter which was reported at 8. The Tankan Small Non-Manufacturers Index for the fourth-quarter was reported at 9. Economists predicted a figure of 9. Forex traders can compare this to the Tankan Small Non-Manufacturers Index for the third-quarter which was reported at 8. The Tankan Small Non-Manufacturers Outlook for the fourth-quarter was reported at 5. Economists predicted a figure of 5. Forex traders can compare this to the Tankan Small Non-Manufacturers Outlook for the third-quarter which was reported at 4. The Japanese Tankan Large All Industry Capex Index for the fourth-quarter increased by 7.4% quarterly. Economists predicted an increase of 7.5% quarterly. Forex traders can compare this to the Japanese Tankan Large All Industry Capex Index for the third-quarter which increased by 7.7% quarterly.

Should price action for the USDJPY remain inside the or breakdown below the 112.000 to 112.400 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 112.200
• Take Profit Zone: 110.250 – 110.850
• Stop Loss Level: 112.900

Should price action for the USDJPY breakout above 112.400 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 112.700
• Take Profit Zone: 113.550 – 113.750
• Stop Loss Level: 112.400

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