JPY News

USDJPY’s bearish movement from 114.36 extended to as low as 108.81. Near term resistance is at the descending trend line on the 4-hour chart. As long as the pair is below the trend line, the bearish movement could be expected to continue and further decline to test 108.13 (Apr 17 low) support is still possible. Key resistance is at 110.81, only break above this level will indicate that the bearish movement had completed at 108.81 already, then the following upside movement could bring price back into 113.00 zone.

The manufacturing sector in Japan continued to expand in May, albeit at a slower pace, the latest survey from Nikkei showed on Friday with a seven-month low manufacturing PMI score of 52.0.

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Producer prices in Japan were up 0.7 percent on year in May, the Bank of Japan said on Monday.

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Retail sales in Japan were down a seasonally adjusted 1.6 percent on month in May, the Ministry of Economy, Trade and Industry said on Thursday.

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Core machine orders in Japan skidded a seasonally adjusted 3.6 percent on month in May, the Cabinet Office said on Monday - coming in at 805.5 billion yen.

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Japan's all industry activity declined at a faster-than-expected pace in May, after rebounding in the prior month, data published by the Ministry of Economy, Trade and Industry showed Thursday.

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The Bank of Japan left its massive monetary stimulus unchanged on Thursday and pushed back the timeframe to achieve its 2 percent inflation target. The bank has upgraded its growth forecasts as private consumption and exports are expected to continue moderate increasing trend.

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The manufacturing sector in Japan continued to expand in June, albeit at a slightly slower pace, the latest survey from Nikkei revealed on Monday with an eight-month low manufacturing PMI score of 52.2.

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The monetary base in Japan was up 15.6 percent on year in July, the Bank of Japan said on Wednesday - coming in at 465.069 trillion yen.

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Japan posted a current account surplus of 934.6 billion yen in June, the Ministry of Finance said on Tuesday.

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