Dollar/yen fell off a cliff as safe haven flows poured into the yen. Will we see an intervention at these levels? The rate decision isthe major event for this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.
Japan’s preliminary gross domestic product figures were better than predicted in the first quarter of 2012 jumping 1.0% from a flat growth rate in the last quarter of 2011 indicating a nice growth trend in the Japanese economy. The annualized growth is estimated at 4.1% for 2012. Domestic demand was the main cause for GDP expansion.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/usdjpy-outlook-apr-may-21-25/"]USD/JPY Outlook Apr. May 21-25[/URL][/I][/B]
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