1Finance

Weekly USD/JPY Outlook: 2017, July 09 - July 16

Dollar/yen advanced for the fourth week in a row, extending the rise alongside the uptrend support line. Can it continue further to the upside? It is getting closer to the cycle high of 114.30 and the steep uptrend could be hard to sustain.

• The upcoming week begins with echoes from the Non-Farm Payrolls report and also the G-20 Summit, including the first meeting between Trump and Putin. The focus then shifts to Yellen’s testimony on Wednesday and also on Thursday. This time, she will undoubtedly talk about monetary policy, moving markets.
• Towards the end of the week, we will get inflation data, that has been quite weak and worrying in the US. Retail sales and consumer confidence will provide a picture of the wider economy.
• In Japan, we will get the current account, PPI, and the revised industrial output data, but none of these moves markets.

the source