JPY News

Japan's industrial production increased less than initially estimated in August, latest figures from the Ministry of Economy, Trade and Industry showed on Monday.

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USDJPY extended its downside movement from 113.43 to as low as 111.68. Deeper decline to test 111.47 key support is still possible. As long as this level holds, the fall could be treated as consolidation of the uptrend from 107.31 and another rise towards 115.50 is still possible after the consolidation. Near term resistance is at 112.60, followed by 113.43, above these levels could signal resumption of the uptrend. On the downside, a breakdown below 111.47 support will confirm that the uptrend had completed at 113.43 already, then the following downside movement could bring price back to 109.50 area.

The governing Liberal Democratic Party will continue Abenomics if the LDP wins in the coming General Election. The other parties simply do not understand monetary policy.

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The manufacturing sector in Japan continued to expand in October, albeit at a slightly slower pace, the latest survey from Nikkei revealed on Tuesday with a manufacturing PMI score of 52.5.

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Producer prices in Japan were up 0.9 percent on year in September, the Bank of Japan said on Thursday.

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USDJPY continued its upside movement from 111.65 and the rise extended to as high as 114.45. As long as the price is above the rising trend line on the 4-hour chart, the uptrend could be expected to resume, and further rise towards 115.50 is still possible. Near term resistance is at 114.45, above this level could signal resumption of the uptrend. On the downside, a breakdown below the trend line support could bring price to next support level at 113.24. Below this level will confirm that the short term uptrend from 111.65 had completed at 114.45 already, then the following bearish move could could take price back towards 111.47 key support.

The weakness in Japan's consumer spending is unlikely to last as household incomes are growing at a healthy pace and consumers remain unusually upbeat, Marcel Thieliant, an economist at Capital Economics, said.

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Producer prices in Japan were up 0.3 percent on month in October, the Bank of Japan said on Monday.

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Japan had a merchandise trade surplus of 285.385 billion yen in October, the Ministry of Finance said on Monday.

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Producer prices in Japan were up 0.8 percent on year in October, the Bank of Japan said on Monday.

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