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Trade-related improvements dragged the safe haven lower last week. See if this week’s catalysts can turn things around for the bulls!

Trade balance (Dec 17, 11:50 pm GMT)

  • After three months of deficit, Japan returned to a trade surplus of 15.7B JPY from a year ago in October
  • Exports fell by 9.2%, while imports also saw a 14.8% decrease for the month
  • Market players see a return to deficit to the tune of 350B JPY in November
  • Exports could fall by another 12.3%, while imports could see another 8.8% decrease

BOJ’s policy statement (Dec 19, Asian session)

Market risk sentiment

  • Watch the newswires closely for more details on the U.S. “phase one deal” with China
  • Look out for potential profit-taking from last week’s strong moves
  • PMIs in the European region can also dictate overall risk appetite

Technical snapshot

  • ALL JPY pairs are “bullish” across short and long-term SMAs

  • Stochastic marks JPY as “oversold” against CAD, CHF, EUR, NZD, and GBP

Missed last week’s price action? Read JPY’s price recap for December 9 – 13!