USD/JPY eventually slid a bit lower, as the pair remained surprisingly stable in the global storm. Current Account and rate decision are the major events this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.
The mediocre US Non-Farm Payrolls figure hurt the dollar against the yen, but the effect was not strong, as the weak figures are not enough for QE3. Last week Tankan business-sentiment survey improved unexpectedly, rising well above expectations. Major companies’ sentiment improved to -1 after two quarters of a -4 result and major non-manufacturing firms reported a climb to 8 from 5 the previous quarter. These encouraging figures suggest improvement in Japan’s economic activity in the coming months.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/usdjpy-outlook-july-9-13/"]USD/JPY Outlook July 9-13[/URL][/I][/B]
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