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A light data week for Japan means extra focus on risk sentiment as the yen’s mover.

Ready to trade the yen as a safe-haven?

Here are market themes you should keep close tabs on:

Lower-tier domestic events

  • Bank of Japan (BOJ) Governor Kuroda will give a speech. Watch for more reassurance that the central bank won’t ease the pedal from the metal just yet
  • Leading indicators index (Nov 26, 5:00 am GMT) could jump from 88.5 to 92.9 in October
  • Tokyo’s core CPI (Nov 26, 11:30 pm GMT) to dip by another 0.4% from -0.3% reading in October

Risk sentiment themes

  • Thanksgiving week in the U.S. could lead to limited volatility for USD/JPY
  • EUR/JPY and GBP/JPY will likely see more action from Brexit deal updates
  • Coronavirus-related updates (rising cases, lockdown plans, vaccine prospects) will continue to factor in safe-haven demand

Technical snapshot

  • Stochastic considers the yen “overbought” against the franc on the daily time frame
  • JPY may soon be “oversold” against NZD
  • The yen is close to reaching “overbought” levels against the dollar and Loonie
JPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • Daily EMAs show JPY’s short and long-term downtrends against NZD, AUD, and GBP
  • JPY remains on bullish trends against CAD and USD
  • The yen may soon see longer-term bullish trends against EUR and CHF
JPY Forex Pairs EMAs from MarketMilk
JPY Forex Pairs EMAs 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 Nov. 16 – 20!