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 September 29th are predicted at 213K and US Continuing Claims for the week of September 22nd are predicted at 1,665K. Forex traders can compare this to US Initial Jobless Claims for the week of September 22nd which were reported at 214K and to US Continuing Claims for the week of September 15th which were reported at 1,661K.
• US Factory Orders: US Factory Orders for August are predicted to increase by 2.2% monthly. Forex traders can compare this to US Factory Orders for July which decreased by 0.8% monthly.

Here is the key factor 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 September 28th was reported at ¥379.9B and Japanese Buying Foreign Stocks was reported at ¥334.1B. Forex traders can compare this to Japanese Buying Foreign Bonds for September 21st which was reported at ¥1,505.0B and to Japanese Buying Foreign Stocks which was reported at ¥297.1B. Foreign Buying Japanese Bonds for September 28th was reported at -¥179.7B and Foreigners Buying Japanese Stocks was reported at ¥835.7B. Forex traders can compare this to Foreign Buying Japanese Bonds for September 21st which was reported at -¥2,297.6B and to Foreigners Buying Japanese Stocks which was reported at -¥519.8B.

Should price action for the USDJPY remain inside the or breakdown below the 114.200 to 114.550 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 114.350
• Take Profit Zone: 111.850 – 112.150
• Stop Loss Level: 115.500

Should price action for the USDJPY breakout above 114.550 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 114.750
• Take Profit Zone: 115.500 – 116.000
• Stop Loss Level: 114.350

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.