Japan has a couple of lower tier reports on tap! Which ones are you willing to day trade?

Here’s a short list of potential catalysts that might affect JPY’s price action:

Japan’s lower-tier releases

  • Flash manufacturing PMI (Mar 24, 12:30 am GMT) could drop from 47.8 to 42.1 in March
  • BOJ’s annualized core CPI (Mar 24, 5:00 am GMT) maintained its 0.3% growth in February
  • Annualized services producer price index (Mar 25, 11:50 pm GMT) might slow down from 2.3% to 2.2% in February
  • Tokyo’s core CPI (Mar 26, 11:40 pm GMT), usually a leading indicator for the nation’s prices, could slow down from 0.5% to 0.4% in March

Market risk appetite

  • Only the Bank of England (BOE) has a scheduled policy announcement this week, but that doesn’t mean that we won’t see more policy interventions. Keep an eye out for more stimulus measures from major economies
  • Markit will print PMI reports for countries like the U.S., U.K., euro zone, and Australia, which could inspire volatility among the major currencies

Technical snapshot

  • JPY has gained the most pips against NZD, AUD, and GBP in the last seven days
  • JPY has lost the most pips to CAD and USD in the last week

  • JPY has been the most volatile against AUD, NZD, and GBP in the last seven days

  • AUD/JPY, EUR/JPY, GBP/JPY, and NZD/JPY are all trading above their short and long-term EMAs on the daily time frame
  • USD/JPY is trading above its short and long-term EMAs on the daily
  • CHF/JPY is still trading above its 200 EMA. Watch out for retracement or reversal opportunities

Missed last week’s price action? Read JPY’s price recap for March 16 – 20!