Here is the key factor to keep in mind today for Euro trades:
German IFO: The German IFO Business Climate Index for June is predicted at 101.8. Forex traders can compare this to the German IFO Business Climate Index for May which was reported at 102.2. The German IFO Current Assessment Index for June is predicted at 105.6. Forex traders can compare this to the German IFO Current Assessment Index for May which was reported at 106.0. The German IFO Expectations Index for June is predicted at 98.0. Forex traders can compare this to the German IFO Expectations Index for May which was reported at 98.5.
Here is the key factor to keep in mind today for Japanese Yen trades:
Japanese Leading Index and Japanese Coincident Index: The Final Japanese Leading Index for April was reported at 106.2 and the Final Japanese Coincident Index was reported at 117.5. Forex traders can compare this to the previous Japanese Leading Index for April which was reported at 105.6 and to the previous Japanese Coincident Index which was reported at 117.7.
Should price action for the EURJPY remain inside the or breakout above the 127.000 to 128.000 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 127.400
Take Profit Zone: 132.900 – 133.450
Stop Loss Level: 124.600
Should price action for the EURJPY breakdown below 127.000 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 126.600
Take Profit Zone: 124.000 – 124.600
Stop Loss Level: 127.400