Steps to Successful Trading: #6 - Increase Returns with Analysis and Trading

The National Bureau of Statistics of China will publish its data for January at 01.30 GMT. The Consumer Price Index is expected to show a rise of 0.4% YoY in January, compared to 0.8% in December. The Producer Price Index is projected to show a decline of 1.5% in January versus a fall of 1.9% prior.

USD/JPY is trading in a choppy, range-bound structure on the daily chart, oscillating between the January high near 159.450 and the late-January swing low at 152.100. Price closed Monday at 154.410, dropping sharply by 1.47 yen (0.94%) after an initial gap higher following Prime Minister Takaichi's landslide election victory was met with verbal intervention from Finance Minister Katayama and Japan's top currency official Mimura, both signaling readiness to act on yen volatility.

Gold price falls to near $5,045 during the early Asian session on Wednesday. Traders assess whether prices have found a floor following a historic sell-off. The delayed US employment report for January, which was pushed back due to the recently ended four-day government shutdown, will take center stage later on Wednesday.

Following one of Ethereum's largest weekly drawdowns, whales are slowly returning to action alongside a drop in retail selling pressure. After slightly selling into the decline at the start of the month, whales or wallets with a balance of 10K-100K ETH began buying the dip last Wednesday as prices crashed further. 

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

United States (US) ADP reported that, on average, the private sector added 6.5K new jobs in the four weeks ending January 24, up from 5K in the previous week. Other than that, Retail Sales remained unchanged in December, below expectations for a 0.4% increase and below November’s 0.6% advance.