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A risk-on sentiment killed the yen’s vibe last week.

Will the bulls have opportunities to shine this week?

Check out the potential catalysts that might move the yen’s charts in the next few days!

Top and lower-tier data releases

  • Economy grows most since 1968 amid Covid rebound
  • Final industrial production (Nov 16, 4:30 am GMT) is expected to be adjusted from 1.0% to 4.0%
  • Trade surplus (Nov 17, 11:50 pm GMT) could have tightened from 675B JPY to 210B JPY in October
  • Both imports and exports are expected to have improved for the month
  • National core CPI (Nov 19, 11:30 pm GMT) seen dipping from -0.3% to -0.6%
  • Markit’s flash PMI (Nov 20, 12:30 am GMT) to rise from 48.7 to 49.9?

Countercurrency moves and risk sentiment

  • Vaccine prospects and its logistical challenges amidst rising coronavirus cases will continue to factor in the yen’s intraweek price action
  • Top-tier reports from other major economies can also influence the low-yielding yen’s intraday demand
  • G20 and OPEC meetings this week can yield takeaways that might influence overall risk-taking

Technical snapshot

  • Stochastic consider the yen “oversold” against the Kiwi
  • JPY may soon hit oversold territory against the Aussie
JPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • SMAs are showing a short-term demand for the yen
  • JPY remains on long-term trends against NZD, GBP, AUD, CAD, and EUR
  • The yen is enjoying short and long-term bullish trends against the dollar
JPY Forex Pairs SMAs from MarketMilk
JPY Forex Pairs SMAs from MarketMilk
  • The yen saw the most volatility 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 Nov. 9 – 13!