EURJPY Fundamental Analysis – September 20th 2019Here are the key factors to keep in mind today for Euro trades:
German PPI: The German PPI for August increased by 0.5% monthly and by 0.3% annualized. Economists predicted a decrease of 0.2% monthly and an increase of 0.6% annualized. Forex traders can compare this to the German PPI for July which increased by 0.1% monthly and by 1.1% annualized.
Advanced Eurozone Consumer Confidence: Advanced Eurozone Consumer Confidence for September is predicted at -7.0. Forex traders can compare this to the previous Eurozone Consumer Confidence for September which was reported at -7.1.
Here are the key factors to keep in mind today for Japanese Yen trades:
Japanese National CPI: The Japanese National CPI for August increased by 0.3% annualized. Economists predicted an increase of 0.3% annualized. Forex traders can compare this to the Japanese National CPI for July which increased by 0.5% annualized. The Japanese National Core CPI for August increased by 0.6% annualized. Economists predicted an increase of 0.5% annualized. Forex traders can compare this to the Japanese National Core CPI for July which increased by 0.6% annualized. The Japanese National CPI Excluding Fresh Food for August increased by 0.5% annualized. Economists predicted an increase of 0.5% annualized. Forex traders can compare this to the Japanese National CPI Excluding Fresh Food for July which increased by 0.6% annualized.
Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for the period ending September 13th was reported at ¥476.0B and Japanese Buying Foreign Stocks was reported at ¥63.9B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending September 6th which was reported at ¥727.2B and to Japanese Buying Foreign Stocks which was reported at -¥25.4B. Foreign Buying Japanese Bonds for the period ending September 13th was reported at ¥1,269.5B and Foreigners Buying Japanese Stocks was reported at -¥971.9B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending September 6th which was reported at ¥441.1B and to Foreigners Buying Japanese Stocks which was reported at -¥161.3B.
Should price action for the EURJPY remain inside the or breakdown below the 118.950 to 119.800 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 119.250
Take Profit Zone: 115.850 – 116.550
Stop Loss Level: 120.700
Should price action for the EURJPY breakout above 119.800 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 120.700
Take Profit Zone: 122.300 – 123.350
Stop Loss Level: 119.800
