Partner Center
Find a Broker
USD/JPY’s monster move dragged the rest of the yen crosses in the charts last week. Which catalysts should you watch out for this week?
Japan’s mid-tier reports
- BOJ’s annualized core CPI (Feb 26, 5:00 am GMT) registered at 0.3% in January
- Tokyo’s core CPI (Feb 27, 11:30 pm GMT) could slow down from 0.7% to 0.6% from a year ago in February
- Unemployment rate (Feb 27, 11:30 pm GMT) is widely expected to maintain its 2.2% reading in January
- Preliminary industrial production (Feb 27, 11:50 pm GMT) to slow down from 1.2% to 0.2% while its annualized version could maintain its 3.1% decline in January
- Retail sales (Feb 27, 11:50 pm GMT) is seen at -0.2% after a 0.2% uptick in December. Annualized retail trading could improve from -2.6% to -1.0% for the month
- Housing starts (Feb 28, 5:00 am GMT) might dip by 5.3% after a 7.9% decline in December
Overall risk appetite
- Watch USD/JPY to see if demand for the dollar can trend enough to influence other yen crosses for another week
- Coronavirus updates can continue to affect the demand for safe havens like the yen
- Closely watched reports like the U.S.’ GDP reading and China’s PMI data can also influence market risk sentiment
Technical snapshot
- Stochastic considers JPY as “oversold” against CAD, CHF, EUR, GBP, and USD
- NZD/JPY is “bearish” with short-term SMAs and “bullish but weakening” with longer-term SMAs. Watch out for potential retracements or reversals