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 June 23rd are predicted at 220K and US Continuing Claims for the week of June 16th are predicted at 1,718K. Forex traders can compare this to US Initial Jobless Claims for the week of June 16th which were reported at 218K and to US Continuing Claims for the week of June 9th which were reported at 1,723K.
• US GDP: The US GDP for the first-quarter is predicted to increase by 2.2% annualized. Forex traders can compare this to the previous first-quarter GDP which increased by 2.2% annualized. Personal Consumption is predicted to increase by 1.0% annualized. Forex traders can compare this to previous first-quarter Personal Consumption which increased by 1.0% annualized. The GDP Price Index is predicted to increase by 1.9% annualized. Forex traders can compare this to the previous first-quarter GDP Price Index which increased by 1.9% annualized. The Core PCE is predicted to increase by 2.3% annualized. Forex traders can compare this to the previous first-quarter Core PCE which increased by 2.3% annualized.
• US Kansas City Fed Manufacturing Activity Index: The US Kansas City Fed Manufacturing Activity Index for June is predicted at 26. Forex traders can compare this to the US Kansas City Fed Manufacturing Activity Index for May which was reported at 29.

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 June 22nd was reported at ¥27.4B and Japanese Buying Foreign Stocks was reported at ¥97.5B. Forex traders can compare this to Japanese Buying Foreign Bonds for June 15th which was reported at ¥1,490.4B and to Japanese Buying Foreign Stocks which was reported at ¥332.7B. Foreign Buying Japanese Bonds for June 22nd was reported at -¥862.1B and Foreigners Buying Japanese Stocks was reported at -¥483.5B. Forex traders can compare this to Foreign Buying Japanese Bonds for June 15th which was reported at ¥85.6B and to Foreigners Buying Japanese Stocks which was reported at ¥40.8B.
• Japanese Retail Trade Data: Japanese Retail Trade for May decreased by 1.7% monthly and increased by 0.6% annualized. Economists predicted a decrease of 0.8% and an increase of 1.2%. Forex traders can compare this to Japanese Retail Trade for April which increased by 1.4% monthly and by 1.6% annualized. Large Retailer’s Sales for May decreased by 2.0% monthly. Economists predicted a decrease of 1.1% monthly. Forex traders can compare this to Large Retailer’s Sales for April which decreased by 0.8% monthly.

Should price action for the USDJPY remain inside the or breakdown below the 109.950 to 110.750 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 110.350
• Take Profit Zone: 104.600 – 105.300
• Stop Loss Level: 111.350

Should price action for the USDJPY breakout above 110.750 the following trade set-up is recommended:

Timeframe: D1

Recommendation: Long Position

Entry Level: Long Position @ 111.000

Take Profit Zone: 113.100 – 113.500

Stop Loss Level: 110.350

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