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Another week, another chance to trade the safe haven!

Will the yen continue to strengthen on the back of PM Abe’s resignation?

Here’s what you need to know about JPY’s potential catalysts this week:

Lower-tier releases

Market risk sentiment

  • With Abe’s party still in charge of policymaking, markets don’t see his resignation affecting JPY’s trends for long
  • As seen in last week’s trading, headlines on COVID-19 vaccines and stimulus as well as the U.S.-China trade deal can continue to influence the demand for the safe-haven yen
  • PMIs from the major economies could tell the story of global economic recovery and influence JPY’s trends
  • Headlines about the U.S. NFP report can affect USD/JPY and lead most of the yen’s crosses

Technical snapshot

  • Stochastic considers the yen “oversold” against NZD, AUD, and GBP on the daily time frame
  • EUR/JPY, EUR/CHF, and USD/JPY remain mostly in the middle ground
JPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • EMAs reflect USD/JPY’s short and long-term bullish trends
  • JPY remains bearish against most of its major counterparts
JPY Forex Pairs EMAs from MarketMilk
JPY Forex Pairs EMAs from MarketMilk
JPY Forex Pairs Volatility from MarketMilk
JPY Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read JPY’s price recap for August 24 – 28!