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

• US Preliminary Durable Goods Orders: US Preliminary Durable Goods Orders for May are predicted to decrease by 0.6% monthly and Durables Excluding Transportation are predicted to increase by 0.4% monthly. Forex traders can compare this to US Durable Goods Orders for April which decreased by 0.8% monthly and to Durables Excluding Transportation which decreased by 0.5% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for May are predicted to increase by 0.3% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicated to increase by 0.3% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for April which increased by 0.1% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft which increased by 0.1% monthly.
• US Chicago Fed National Activity Index: The US Chicago Fed National Activity Index for May is predicted at 0.20.Forex traders can compare this to the US Chicago Fed National Activity Index for April which was reported at 0.49.
• US Dallas Fed Manufacturing Index: The US Dallas Fed Manufacturing Index for June is predicted at 16.0. Forex traders can compare this to the US Dallas Fed Manufacturing Index for May which was reported at 17.2.

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

• Japanese Corporate Service Price Index: The Japanese Corporate Service Price Index for May increased by 0.7% annualized. Economists predicted an increase of 0.7% annualized. Forex traders can compare this to the Japanese Corporate Service Price Index for April which increased by 0.8% annualized.
• Japanese Leading Index and Japanese Coincident Index: The Final Japanese Leading Index for April was reported at 104.2 and the Final Japanese Coincident Index was reported at 117.1. Forex traders can compare this to the first Japanese Leading Index for April which was reported at 104.5 and to the first Japanese Coincident Index which was reported at 117.7.

Should price action for the USDJPY remain inside the or breakdown below the 111.400 to 111.800 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 111.600
• Take Profit Zone: 108.200 – 108.600
• Stop Loss Level: 112.900

Should price action for the USDJPY breakout above 111.800 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 112.100
• Take Profit Zone: 114.000 – 114.300
• Stop Loss Level: 111.400

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