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U.S. New Home Sales usually follows the trend of Existing Home Sales, therefore we are likely to see a worse than expected figure. Here is the forecast:

10:00am NY Time New Home Sales Forecast 333K Previous 330K
ACTION: USD/JPY BUY 400K SELL 260K

The Trade Plan
We’ll trade this release using a deviation of 70K; if the release is lower, it would strengthened risk aversion sentiment and we should look to SELL USD/JPY; if the number is higher, it could provide a temporary support for the pair and we may see a slight rally in USD/JPY.

With the first time Home Buyer’s Credit ended in April, this release is likely to show a significant decline…  Here is the forecast:

10:00am NY Time   New Home Sales      Forecast 424K     Previous 504K
ACTION:  USD/JPY          BUY 500K          SELL 350K

We’ll trade this release using a deviation of 70K; if the release is lower, it would strengthen risk aversion sentiment and we should look to SELL USD/JPY; if the number is higher, it could provide a temporary risk appetite sentiment, we may see a slight rally in USD/JPY and provide a chance to go short on JPY crosses.

With the first time Home Buyer’s Credit ending in April, this release is the final stretch for U.S. homeowners to claim that credit.  Therefore, we could see a stronger than expected release this month.  Here is the forecast:

10:00am NY Time   New Home Sales      Forecast 425K     Previous 411K
ACTION:  USD/JPY          BUY 500K          SELL 350K

With the first time Home Buyer’s Credit coming to an end, March and April will be the final stretches for U.S. homeowners to claim that credit.  Therefore, we could see a stronger than expected release this month (March release).  Here is the forecast:

10:00am NY Time   New Home Sales      Forecast 326K     Previous 308K
ACTION:  USD/JPY          BUY 400K          SELL 260K

10:00am NY Time   New Home Sales      Forecast 318K     Previous 309K
ACTION:  USD/JPY          BUY 390K          SELL 250K

We’ll be looking for a possible trade from the New Home Sales figure, which is expected at 318K; our tradable deviation is 70K, and if the release is lower, it would strengthen risk aversion sentiment and we should look to SELL USD/JPY or possibly the USD/CHF pair as well; if the number is higher, it would fuel risk appetite sentiment, we may see a rally in USD/JPY or USD/CHF and possibly further downward pressure on the already uncertain EUR/USD pair.

10:00am NY Time   New Home Sales      Forecast 354K     Previous 342K
ACTION:  USD/JPY          BUY 420K          SELL 280K

We’ll be focusing on the the New Home Sales figure, which is expected at 354K; our tradable deviation is 70K, and if the release is lower, it would strengthen risk aversion sentiment and we should look to SELL USD/JPY or possibly the USD/CHF pair as well; if the number is higher, it would fuel risk appetite sentiment, we may see a rally in USD/JPY or USD/CHF and possibly further downward pressure on the already sketchy EUR/USD pair.

10:00am (NY Time) US New Home Sales   Forecast 372K  Previous 355K
ACTION: USD/JPY or USD/CHF        BUY 440K    SELL 300K

We’ll be looking to the the New Home Sales, which is expected at 372K; our tradable deviation is going to be 70K, so if the release is lower, it would strengthen risk aversion sentiment and we should look to SELL USD/JPY or possible the USD/CHF pair; if the number is higher, it would fuel risk appetite sentiment, we may see a rally in USD/JPY or USD/CHF.