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

• US Personal Income and Personal Spending: US Personal Income for February is predicted to increase by 0.3% monthly and Personal Spending is predicted to increase by 0.3% monthly. Forex traders can compare this to Personal Income for January which decreased by 0.1% monthly and to Personal Spending which decreased by 0.5% monthly. Real Personal Spending for February is predicted to increase by 0.3% monthly. Forex traders can compare this to Real Personal Spending for January which decreased by 0.6% monthly. The PCE Deflator for February is predicted flat at 0.0% monthly and to increase by 1.4% annualized. Forex traders can compare this to the PCE Deflator for January which increased by 0.1% monthly and by 1.7% annualized. The PCE Core Deflator for February is predicted to increase by 0.2% monthly and by 1.9% annualized. Forex traders can compare this to the PCE Core Deflator for January which increased by 0.2% monthly and by 1.9% annualized.
• US Chicago PMI: The US Chicago PMI for March is predicted at 61.0. Forex traders can compare this to the US Chicago PMI for February which was reported at 64.7.
• US New Home Sales: US New Home Sales for February are predicted to increase by 2.1% monthly to 620K new homes. Forex traders can compare this to US New Home Sales for January which decreased by 6.9% monthly to 607K new homes.
• US Michigan Consumer Confidence: Final US Michigan Consumer Confidence for March is predicted at 97.8. Forex traders can compare this to the previous US Michigan Consumer Confidence for March which was reported at 97.8.

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

• Japanese Jobless Rate and Job-to-Applicant Ratio: The Japanese Jobless Rate for February was reported at 2.3% and the Job-to-Applicant Ratio at 1.63. Economists predicted a figure of 2.5% and of 1.63. Forex traders can compare this to the Japanese Jobless Rate for January which was reported at 2.5% and to the Job-to-Applicant Ratio which was reported at 1.63.
• Japanese Industrial Production: Preliminary Japanese Industrial Production for February increased by 1.4% monthly and decreased by 0.1% annualized. Economists predicted an increase of 1.4% monthly and a decrease of 1.1% annualized. Forex traders can compare this to Japanese Industrial Production for January which decreased by 3.4% monthly and which increased by 0.3% annualized.
• Japanese Retail Trade Data: Japanese Retail Trade for February increased by 0.2% monthly and by 0.4% annualized. Economists predicted an increase of 1.0% and of 1.0%. Forex traders can compare this to Japanese Retail Trade for January which decreased by 1.8% monthly and which increased by 0.6% annualized. Large Retailer’s Sales for February decreased by 1.8% monthly. Economists predicted a decrease of 1.3% monthly. Forex traders can compare this to Large Retailer’s Sales for January which decreased by 3.3% monthly.
• Japanese Vehicle Production: Japanese Vehicle Production for January increased by 7.0% annualized. Forex traders can compare this to Japanese Vehicle Production for December which decreased by 0.7% annualized.
• Japanese Housing Starts and Construction Orders: Japanese Housing Starts for February increased by 4.2% annualized to 0.909M units. Economists predicted an decrease of 0.1% annualized to 0.870M units. Forex traders can compare this to Japanese Housing Starts for January which increased by 1.1% annualized to 0.872M units. Construction Orders for February decreased by 3.4% annualized. Forex traders can compare this to Construction Orders for January which increased by 19.8% annualized.

Should price action for the USDJPY remain inside the or breakdown below the 110.650 to 111.000 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 110.800
• Take Profit Zone: 107.500 – 108.500
• Stop Loss Level: 111.700

Should price action for the USDJPY breakout above 111.000 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 111.400
• Take Profit Zone: 112.100 – 112.700
• Stop Loss Level: 111.000

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