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CADJPY Fundamental Analysis – October 8th 2019Here is the key factor to keep in mind today for Canadian Dollar trades: Canadian Housing Starts and Building Permits: Canadian Housing Starts for September are predicted at 217.5K. Forex traders can compare this to Canadian Housing Starts for August which were reported at 226.6K. Canadian Building Permits for August are predicted to increase by 1.2% monthly. Forex traders can compare this to Canadian Building Permits for July which increased by 3.0% monthly. Here are the key factors to keep in mind today for Japanese Yen trades: Japanese Labor Cash Earnings and Japanese Real Cash Earnings: Japanese Labor Cash Earnings for August decreased by 0.2% annualized and Japanese Real Cash Earnings decreased by 0.6% annualized. Economists predicted a decrease of 0.2% and of 0.6%. Forex traders can compare this to Japanese Labor Cash Earnings for July which decreased by 1.0% annualized and to Japanese Real Cash Earnings which decreased by 1.7% annualized. Japanese Household Spending: Japanese Household Spending for August increased by 2.4% monthly and by 1.0% annualized. Economists predicted an increase 2.8% and of 1.2% annualized. Forex traders can compare this to Japanese Household Spending for July which decreased by 0.9% monthly and which increased by 0.8% annualized. Japanese Current Account Balance and Trade Balance: The Preliminary Japanese Current Account Balance for August was reported at ¥2,157.7B. Economists predicted a figure of ¥2,069.5B. Forex traders can compare this to the Japanese Current Account Balance for July which was reported at ¥1,999.9B. The Preliminary Japanese Adjusted Current Account Balance for August was reported at ¥1,720.3B. Economists predicted a figure of ¥1,682.1B. Forex traders can compare this to the Japanese Adjusted Current Account Balance for July which was reported at ¥1,647.1B. The Preliminary Japanese Trade Balance for August was reported at ¥50.9B. Economists predicted a figure of ¥36.4B. Forex traders can compare this to the Japanese Trade Balance for July which was reported at -¥74.5B. Japanese Bankruptcies: Japanese Bankruptcies for September increased by 13.04% annualized. Forex traders can compare this to Japanese Bankruptcies for August which decreased by 2.30% annualized. Japanese Eco Watchers Survey: The Japanese Eco Watchers Survey Current Index for September was reported at 46.7 and the Japanese Eco Watchers Survey Outlook Index was reported at 36.9. Economists predicted a figure of 43.3 and of 38.7. Forex traders can compare this to the Japanese Eco Watchers Survey Current Index for August which was reported at 42.8 and to the Japanese Eco Watchers Survey Outlook Index which was reported at 39.7. Should price action for the CADJPY remain inside the or breakdown below the 80.550 to 81.200 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 80.800 Take Profit Zone: 78.500 – 79.100 Stop Loss Level: 81.650 Should price action for the CADJPY breakout above 81.200 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 81.650 Take Profit Zone: 82.050 – 82.700 Stop Loss Level: 81.200 Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Is your forex investment in good hands when you are away from your trading terminal? Find out now why more forex traders trust PaxForex every day!
by PaxForex
1
CADJPY approaching support, potential for a bounce! CADJPY is expected to drop to 1st support at 79.800 where it could potentially react off and up to 1st resistance at 80.791. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone
4
CADJPY approaching support, potential for a bounce! CADJPY is expected to drop to 1st support at 79.800 where it could potentially react off and up to 1st resistance at 80.791. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone
CADJPY reversed from resistance, potential drop! CADJPY reversed off its resistance at 81.685 where it could potentially drop further to 80.900. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
CADJPY reversed from resistance, potential drop! CADJPY reversed off its resistance at 81.685 where it could potentially drop further to 80.900. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
CADJPY reversed from resistance, potential drop! CADJPY reversed off its resistance at 81.000 where it could potentially drop further to 80.250. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
CADJPY reversed from resistance, potential drop! CADJPY reversed off its resistance at 80.900 where it could potentially drop further to 80.250. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
CADJPY reversed from resistance, potential drop! CADJPY reversed off its resistance at 81.38 where it could potentially drop further to 80.250. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
1
CADJPY reversed from resistance, potential drop! CADJPY reversed off its resistance at 81.685 where it could potentially drop further to 80.250. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone