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

• US Personal Income and Personal Spending: US Personal Income for January is predicted to increase by 0.3% monthly and Personal Spending is predicted to increase by 0.2% monthly. Forex traders can compare this to Personal Income for December which increased by 0.4% monthly and to Personal Spending which increased by 0.4% monthly. Real Personal Spending for January is predicted to decrease by 0.1% monthly. Forex traders can compare this to Real Personal Spending for December which increased by 0.3% monthly. The PCE Deflator for January is predicted to increase by 0.4% monthly and by 1.7% annualized. Forex traders can compare this to the PCE Deflator for December which increased by 0.1% monthly and by 1.7% annualized. The PCE Core Deflator for January is predicted to increase by 0.3% monthly and by 1.5% annualized. Forex traders can compare this to the PCE Core Deflator for December which increased by 0.2% monthly and by 1.5% annualized.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of February 24th are predicted at 226K and US Continuing Claims for the week of February 17th are predicted at 1,915K. Forex traders can compare this to US Initial Jobless Claims for the week of February 17th which were reported at 222K and to US Continuing Claims for the week of February 10th which were reported at 1,875K.
• US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for February is predicted at 55.8. Forex traders can compare this to the first US Markit Manufacturing PMI for February which was reported at 55.9.
• US Construction Spending: US Construction Spending for January is predicted to increase by 0.2% monthly. Forex traders can compare this to US Construction Spending for December which increased by 0.7% monthly.
• US ISM Manufacturing Index: The US ISM Manufacturing Index for February is predicted at 58.7. Forex traders can compare this to the US ISM Manufacturing Index for January which was reported at 59.1. ISM Prices Paid for February are predicted at 70.0. Forex traders can compare this to ISM Prices Paid for January which were reported at 72.7.

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 February 23rd was reported at ¥201.3B and Japanese Buying Foreign Stocks was reported at ¥45.0B. Forex traders can compare this to Japanese Buying Foreign Bonds for February 16th which was reported at -¥512.6B and to Japanese Buying Foreign Stocks which was reported at -¥587.1B. Foreign Buying Japanese Bonds for February 23rd was reported at -¥20.6B and Foreigners Buying Japanese Stocks was reported at -¥53.6B. Forex traders can compare this to Foreign Buying Japanese Bonds for February 16th which was reported at -¥789.5B and to Foreigners Buying Japanese Stocks which was reported at ¥127.2B.
• Japanese Company Profits and Japanese Company Sales: Japanese Company Profits for the fourth-quarter increased by 0.9% and Japanese Company Sales increased by 5.9%. Forex traders can compare this to Japanese Company Profits for the third-quarter which increased by 5.5% and to Japanese Company Sales which increased by 4.8%. Japanese Capital Spending for the fourth-quarter increased by 4.3% and Japanese Capital Spending excluding Software increased by 4.7%. Economists predicted an increase of 3.0% and of 2.7%. Forex traders can compare this to Japanese Capital Spending for the third-quarter which increased by 4.2% and to Japanese Capital Spending excluding Software which increased by 4.3%.
• Japanese Nikkei Manufacturing PMI: The Final Japanese Nikkei Manufacturing PMI for February was reported at 54.1. Forex traders can compare this to the previous Japanese Nikkei Manufacturing PMI February which was reported at 54.0.
• Japanese Consumer Confidence: Japanese Consumer Confidence for February was reported at 44.3. Economists predicted a figure of 44.8. Forex traders can compare this to Japanese Consumer Confidence for January which was reported at 44.7.
• Japanese Vehicle Sales: Japanese Vehicle Sales for February decreased by 4.9% annualized. Forex traders can compare this to Japanese Vehicle Sales for January which decreased by 5.7% annualized.

Should price action for the USDJPY remain inside the or breakdown below the 106.700 to 107.000 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 106.850
• Take Profit Zone: 102.550 – 103.000
• Stop Loss Level: 107.850

Should price action for the USDJPY breakout above 107.000 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 107.300
• Take Profit Zone: 108.300 – 108.750
• Stop Loss Level: 106.850

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