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Will the yen see another choppy week?

Or will market themes push the safe-haven into clear intraweek trends this week?

Here are potential catalysts you might want to watch out for:

Lower-tier domestic data

Market risk appetite

  • Coronavirus cases, stimulus and vaccine updates, and lockdown and reopening prospects will still matter for safe haven traders this week
  • Business surveys from the major economies can also influence the demand for the safe-haven yen as they give hints on the pace of economic activity after strict lockdown measures
  • Earnings reports of key U.S. companies may also influence safe-haven demand if hits or misses are notable

Technical snapshot

  • Stochastic considers the yen “oversold” against the euro on the daily time frame
  • JPY may soon reach “oversold” status against the Aussie and Kiwi
  • JPY remains in neutral territory against CHF and CAD
JPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • The yen remains above the 50 and 200 SMAs against the dollar
  • JPY is on bearish trends against CHF, EUR, AUD, and NZD
  • The yen’s bullish trends are weakening against the Loonie and pound
JPY Forex Pairs SMA from MarketMilk
JPY Forex Pairs SMA from MarketMilk
  • JPY has seen the most volatility against CHF, GBP, AUD, and EUR on the daily time frame
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 13 – 17!