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U.S. stimulus talks and overall risk sentiment sent the yen all over the place last week.

Can the safe haven find a clearer direction this week?

Japan isn’t printing a lot of top-tier reports but here are points you need to know about events that could affect the yen:

Manufacturing-related reports

Market risk appetite

  • As seen in last week’s price action, yen traders are very much interested in the developments of another stimulus deal in the U.S.
  • Interest rate cut speculations from other major central banks could affect the demand for the safe-haven yen
  • Top-tier releases like China’s trade balance, Australia’s jobs data, and the U.S. retail sales numbers can also influence JPY’s intraweek trends

Technical snapshot

  • Stochastic is reflecting JPY’s oversold conditions against most of its major counterparts on the daily time frame
JPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • Daily EMAs show the yen’s short and long-term bullish trend against the dollar
  • JPY is on short AND long-term bearish trends against the rest of its major counterparts
  • A quick peek at the SMAs suggest that the yen may be seeing green shoots in the 50 SMAs
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 October 5 – 9!