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Weekly USD/JPY Outlook: 2017, July 16 - July 23

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by , 07-15-2017 at 06:47 PM (174 Views)
          
   
Dollar/yen attempted to move above the cycle high but was rejected. On its way down, it lost the uptrend line of support. The drivers were both political and monetary.

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  • The upcoming week features housing data from the US: building permits and housing starts. Also, watch the Philly Fed Manufacturing Index. Echoes from Yellen’s testimony and the inflation report will likely reverberate.
  • In Japan, we have a rate decision by the BOJ. Kuroda and co. are unlikely to change their current policy of holding long-term 10-year yields to 0%. The assessment of the economy and mostly inflation will set the tone. The previous BOJ meeting did not yield volatility, but you never know.

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