Dollar/yen had an excellent week, breaking out of range and reaching the highest levels in a month, as higher US yields broke the fine balance.Trade Balance and Masaaki Shirakawa’s speech are the main events this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.
Last week Japan’s gross domestic product disappointed with a lower than predicted rise of 0.3% in the second quarter half the growth rate predicted by analysts. On a yearly base, GDP added 1.4% while predicted a 2.5% leap indicating the effect of government subsidies is starting to wear off and additional monetary stimulus is in order. Let’s see what unfolds this week.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/usdjpy-outlook-august-20-24/"]USD/JPY Outlook August 20-24[/URL][/I][/B]
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