Analysis and Recommendation: (close of Asian session)

The USD/JPY  is trading in a tight range today, with little to no economic news in Japan or the US to move the pair. The Yen is trading at 83.74 towards the top of a small range of 83.74 to 83.71.

The pair has had very little reaction to the slowdown from China, although it has been factored in over the past weeks, since the Japanese economy is so tied to the Chinese. Today brings the Trade Balance in Japan, which could be a surprise along with US unemployment.

The pair is expected to remain range bound today at least.

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Economic Events and Reports March 20, 2012 actual v. forecast

Mar. 20

 

AUD

 
 
 

Monetary Policy Meeting Minutes 

 

 
 
 
 
 
 

 

 

CHF

 
 
 

Industrial Production (QoQ) 

7.9%

 

0.4% 

 

-2.0% 

 
 

 

 

GBP

 
 
 

Core CPI (YoY) 

2.4%

 

2.4% 

 

2.6% 

 
 

 

 

GBP

 
 
 

CPI (YoY) 

3.4%

 

3.4% 

 

3.6% 

 
 

 

 

GBP

 
 
 

CBI Industrial Trends Orders 

-8

 

-5 

 

-3 

 
 

 

 

USD

 
 
 

Building Permits 

0.72M

 

0.69M 

 

0.68M 

 
 

 

 

USD

 
 
 

Housing Starts 

0.70M

 

0.70M 

 

0.71M 

 
 

 

 

NZD

 
 
 

Current Account 

-2.76B

 

-2.83B 

 

-4.75B 

 
 

Economic Events Scheduled for March 21, 2012 affecting AUD, NZD and JPY

00:50     JPY        Trade Balance                                                                                                

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

13:30     USD      Initial Jobless Claims                     

13:30     USD      Continuing Jobless Claims

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. Continuing Jobless Claims measures the number of unemployed individuals who qualify for benefits under unemployment insurance.

Government Bond Auctions (this week)

Mar 22  10:10  Sweden  I/L bond auction

Mar 22  10.30  UK  Auctions 0.625% 2042 I/L Gilt

Mar 22  15:00  US

Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar

28 & 7Y Notes on Mar 29

USD/JPY Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
82.9093
83.1202
83.4203
83.6312
83.9313
84.1422
84.4423

Fibonacci
83.1202
83.3154
83.4360
83.6312
83.8264
83.9470
84.1422

Camarilla
83.5800
83.6268
83.6737
83.6312
83.7673
83.8142
83.8610

Woodie's
-
83.1425
83.4650
83.6535
83.9760
84.1645
-

DeMark's
-
-
84.0367
83.6839
83.5258
-
-