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Risk aversion pushed the yen from its lows last week.

Will this week’s market themes extend its upswings across the board?

Check out the potential catalysts you need to know about:

Lower-tier releases

  • BOJ debated monetary policy implications of coronavirus
  • Leading indicators index (Jul 27, 5:00 am GMT) seen improving from 77.7 to 79.3
  • BOJ’s core CPI (Jul 27, 5:00 am GMT) last printed at 0.0% in May
  • Retail sales (Jul 29, 11:50 pm GMT) to dip by 3.0% from 2.1% uptick in May
  • Unemployment rate (Jul 30, 11:50 pm GMT) to tick higher from 2.9% to 3.2%
  • Industrial production (Jul 30, 11:50 pm GMT) could pop up by 7.2% after 8.9% decline in May
  • Consumer confidence (Jul 31, 5:00 am GMT) seen dipping from 28.4 to 26.0

Market risk appetite

  • Trade conflicts between the U.S. and China and the U.S. and Eurozone, as well as geopolitical tensions between the U.S. and China can continue to influence the yen’s intraweek trends
  • Coronavirus cases, vaccine and stimulus prospects, and reopening headlines will affect risk-taking and demand for the low-yielding yen
  • U.S. GDP and FOMC’s decision this week can impact USD/JPY’s price action and influence most of the other yen crosses
  • End-of-month profit-taking can boost the yen against its major counterparts

Technical snapshot

  • Stochastic is flagging the yen’s “overbought” status against the dollar
  • JPY may be “oversold” against EUR and CHF on the daily time frame
  • The yen remains in neutral territory against the Loonie and Kiwi
JPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • SMAs point to the yen having short and long-term bullish trends against the dollar and Loonie
  • Watch out for retracement opportunities on GBP/JPY
  • JPY is now trading ABOVE the 5 SMA against all of its major counterparts
JPY Forex Pairs SMAs from MarketMilk
JPY Forex Pairs SMAs from MarketMilk
  • The yen was most volatile against the comdolls and euro 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 20 – 24!