The near-term USD/JPY candlestick version makes it look as though a head and shoulder pattern may be in the offing. After all the current climb seems to be losing momentum already, before it gets anywhere near the previous peak of 114.72. And it’s losing momentum just about exactly where the putative first shoulder was made. Should the second be confirmed by a marked move lower from current levels then the entire climb up from September’s lows in the 107 region could be in some jeopardy. ...
The Bank of Japan is committed to “powerful monetary easing” in the oft-spoken words of its Governor, Haruhiko Kuroda, until annualized consumer price inflation tops 2%. Well, it’s now at 0.7% and holding so that easing could yet be with us for years. Meanwhile the US Federal Reserve has raised its own interest rates from their post-crisis depths. It’s still expected to do so once again in December and to continue the process in 2018 if the economics permit, albeit gradually. ...
Producer prices in Japan were up 0.3 percent on month in October, the Bank of Japan said on Monday. more...
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. more...
The Bank of Japan kept its monetary stimulus unchanged as widely expected on Thursday. more...
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