Partner Center Find a Broker

The BOJ is up this week!

What are markets expecting from the event?

Check out the market themes that may affect the yen’s intraweek trends!

BOJ’s policy statement (Jul 15, Asian session)

Overall market sentiment

  • The number of coronavirus cases, the major economies’ responses, and prospects of economies reopening will still influence demand for safe havens like the yen this week
  • Policy decisions from BOC and ECB can also affect intraweek trends for the major currencies
  • Major reports from the U.S. (PMIs, retail sales) and China (GDP, industrial production, retail sales) will also factor in the yen’s price action and overall market sentiment

Technical snapshot

  • Stochastic considers the yen “oversold” against the pound and Kiwi on the daily time frame
  • JPY is also flirting with oversold conditions against the AUD and CHF
JPY Forex Pairs Stochastic from MarketMilkJPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • The yen is still on short and long-term bullish trends against the dollar
  • We’re starting to see short-term retracements on AUD/JPY, NZD/JPY, EUR/JPY, and CHF/JPY
  • JPY continues to trade above the 200 SMA even as it drops below the 50, 20, and 5 SMAs against GBP
JPY Forex Pairs SMA from MarketMilk
JPY Forex Pairs SMA from MarketMilk
  • The yen was most volatile against the comdolls and the pound 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 July 6 – 10!