Analysis and Recommendation: (close of Asian session)

The USD/JPY  is trading at 83.29 after opening today's session at 83.41. The shock of the day was the Trade Balance report, which has given the upper hand to the Yen.

Japan swung back to a trade surplus in February, defying expectations for a deficit as shipments to the U.S. jumped. Japan logged a 32.9 billion yen ($395 million) surplus from the month, after January's ¥1.475 trillion deficit, the Ministry reported today.

width=710Economic Data March 21 and 22, 2012 actual v. forecast

Mar. 21

00:30

 

AUD

 
 
 

MI Leading Index (MoM) 

0.6%

 
 
 

0.7% 

 
 

 

03:00

 

NZD

 
 
 

Credit Card Spending (YoY) 

4.0%

 
 
 

3.1% 

 
 

 

05:30

 

JPY

 
 
 

All Industries Activity Index (MoM) 

-1.0%

 

-0.5% 

 

1.6% 

 
 

 

08:30

 

THB

 
 
 

Thai Trade Balance 

0.52B

 

-0.10B 

 

-0.20B 

 
 

 

08:30

 

THB

 
 
 

Thai Interest Rate Decision 

3.00%

 

3.00% 

 

3.00% 

 
 

 

10:30

 

GBP

 
 
 

MPC Meeting Minutes 

 

 
 
 
 
 
 

 

10:30

 

GBP

 
 
 

Public Sector Net Borrowing 

12.9B

 

5.2B 

 

-10.2B 

 
 

 

11:30

 

EUR

 
 
 

German 2-Year Schatz Auction 

0.310%

 
 
 

0.250% 

 
 

 

12:00

 

USD

 
 
 

MBA Mortgage Applications  

-7.4%

 
 
 

-2.4% 

 
 

 

13:30

 

CAD

 
 
 

Leading Indicators (MoM) 

0.6%

 

0.6% 

 

0.4% 

 
 

 

14:30

 

USD

 
 
 

Fed Chairman Bernanke Testifies 

 

 
 
 
 
 
 

 

15:00

 

USD

 
 
 

Existing Home Sales 

4.59M

 

4.61M 

 

4.63M 

 
 

 Mar. 22

15:00

 

JPY

 
 
 

Trade Balance

-0.31T

 

-0.34T 

 

-0.49T 

 
 

Economic Events Scheduled for March 23, 2012

There are no events scheduled at this present time that directly affect the AUD, NZD or JPY

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
81.9693
82.5547
82.9303
83.5157
83.8913
84.4767
84.8523

Fibonacci
82.5547
82.9218
83.1486
83.5157
83.8828
84.1096
84.4767

Camarilla
83.0417
83.1298
83.2179
83.5157
83.3941
83.4822
83.5703

Woodie's
-
82.5023
82.8255
83.4633
83.7865
84.4243
-

DeMark's
-
-
83.7035
83.4218
82.7425
-
-