USD/JPY climbed nicely and managed to close the week higher reaching the highest levels in a month. Will this trend continue? Retail sales and Tokyo Core CPI are the major events on out menu this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.
The absence of QE3 from the FOMC decision certainly pushed the pair higher. Last week Bank of Japan Governor Masaaki Shirakawa spoke in Tokyo about the global market turmoil following the pro-bailout Greek election outcome saying Japan has to monitor developments in the EU and watch from a worsening of EU stability in the near future. He also referred to the moderate growth rate of Japan’s domestic market claiming it is on the right path to recovery and that he BOJ will increase its asset purchases by Y19 trillion to Y70 trillion by the end of June 2013 to boost growth. Will Japan succeed to maintain a recovery trend?
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/usdjpy-outlook-june-25-29/"]USD/JPY Outlook June 25-29[/URL][/I][/B]
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