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Japan isn’t printing top-tier releases this week, which means yen traders will likely pay closer attention to safe-haven demand.

Which market themes should you watch out for?

Here’s a short list:

Lower-tier domestic releases

Safe-haven demand

  • The overall anti-dollar theme could further weigh on USD/JPY and (partly) drag the other yen crosses
  • Major U.S. events, such as Powell’s testimony and the U.S. NFP release can also influence USD/JPY and other yen crosses
  • If the previous weeks’ price action is any clue, vaccine developments will inspire risk appetite and pull the yen lower

Technical snapshot

  • Stochastic is highlighting the yen’s “oversold” conditions against the Aussie and Kiwi on the daily time frame
  • JPY is about to hit the “oversold” territory against EUR
  • The yen is headed for “overbought” status against the dollar
JPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • SMAs show the yen’s overall bearish trend but also a short-term demand across the board
  • JPY remains on short and long-term bullish trends against USD
  • JPY is on short and long-term bearish trends against CHF
JPY Forex Pairs SMAs from MarketMilk
JPY Forex Pairs SMAs from MarketMilk
  • The yen was most volatile against the comdolls and the pound in the last month
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. 23 – 27!