Partner Center Find a Broker

Can yen bulls extend the safe haven’s uptrends from the previous week?

Take note that Japan won’t be printing top-tier releases this week.

Check out the other catalysts that might affect its intraweek trends!

Lower tier reports

  • Lower tier data may not affect the yen’s trends for long, but they can inspire intraday moves that can translate to retracement or reversal opportunities
  • Markit’s manufacturing PMI (June 23, 12:30 am GMT) to improve from 38.4 to 39.5 in June?
  • BOJ’s core CPI (June 23, 5:00 am GMT) weakened from 0.1% to -0.1% in April
  • Tokyo’s core CPI (June 25, 11:30 pm GMT) seen at 0.1% from 0.2% reading in May

Market risk appetite

  • Rising coronavirus cases and talks of reinstating lockdown measures can continue to push the safe-haven yen higher in the charts
  • Vaccine and stimulus updates can also influence risk-taking in the markets
  • PMI reports from major economies will paint a clearer picture of the global economic recovery

Technical snapshot

  • Stochastic considers the yen “overbought” against all of its major counterparts except for the Kiwi
  • JPY may soon shed its overbought status against the Aussie
JPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • JPY is on short and long-term bullish trends against GBP and USD
  • Watch out for retracement or reversal opportunities against AUD, CHF, NZD, and EUR
JPY Forex Pairs SMAs from MarketMilk
JPY Forex Pairs SMAs from MarketMilk
  • JPY was most volatile against AUD, NZD, GBP, and EUR in the last seven days
JPY Forex Pairs Volatility from MarketMilk
JPY Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read JPY’s price recap for June 15 – 19!