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

• US Wholesale Inventories: US Wholesale Inventories for September are predicted to increase by 1.0% monthly. Forex traders can compare this to US Wholesale Inventories for August which increased by 0.9% monthly.
• US Initial Jobless Claims and Continuing Claims: US Initial Jobless Claims for the week of October 21st are predicted at 235K and US Continuing Claims for the week of October31st are predicted at 1,890K. Forex traders can compare this to US Initial Jobless Claims for the week of October 14th which were reported at 222K and US Continuing Claims for the week of October 7th which were reported at 1,888K.
• US Advanced Trade Balance: The US Advanced Trade Balance for September is predicted at -$64.0B. Forex traders can compare this to the US Trade Balance for August which was reported at -$63.3B.
• US Pending Home Sales: US Pending Home Sales for September are predicted to increase by 0.6% monthly and by 0.2% annualized. Forex traders can compare this to US Pending Home Sales for August which decreased by 2.6% monthly and by 3.1% annualized.

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 September increased by 0.9% annualized. Economists predicted an increase of 0.8% annualized. Forex traders can compare this to the Japanese Corporate Service Price Index for August which increased by 0.8% annualized.
• Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for October 20th was reported at ¥10.9B and Japanese Buying Foreign Stocks was reported at ¥55.1B. Forex traders can compare this to Japanese Buying Foreign Bonds for October 13th which was reported at ¥271.1B and to Japanese Buying Foreign Stocks which was reported at ¥147.7B. Foreign Buying Japanese Bonds for October 20th was reported at -¥410.3B and Foreigners Buying Japanese Stocks was reported at ¥686.0B. Forex traders can compare this to Foreign Buying Japanese Bonds for October 13th which was reported at ¥207.6B and to Foreigners Buying Japanese Stocks which was reported at ¥841.8B.

Should price action for the USDJPY remain inside the or breakdown below the 113.500 to 114.000 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 113.750
• Take Profit Zone: 111.650 – 112.000
• Stop Loss Level: 114.500

Should price action for the USDJPY breakout above 114.000 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 114.500
• Take Profit Zone: 115.250 – 115.750
• Stop Loss Level: 114.000

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