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The Yen plunged pretty much

15 June 2021

USDJPY is trading upwards; the Japanese Yen got under pressure. The Japanese Yen remains under pressure against the USD on Tuesday. The current quote for the instrument is 110.10. The statistics published earlier showed that the Industrial Production in Japan added 2.9% m/m in April after being 2.5% m/m in March. The data is seasonally adjusted, that’s why it may be considered quite objective. 

The components of the report show that the major contributions were general-purpose and business-oriented machinery (15.7%), electrical machinery, and information and communication electronics equipment, and production machinery (10.4%), and production machinery (7.7%).

On YoY, the indicator skyrocketed by 15.8% in April after expanding by 3.4% the month before. It’s an excellent result. This week, Japan will be very active in publishing macroeconomic data. For example, there will be a report on the Core Machinery Orders on Wednesday, which may provide insight into the domestic demand and potential household spending, which is a big problem for Japan. Any hints at improvements will be positive, especially for the Yen.

At the moment, the Japanese currency is under pressure from investors’ positive attitude to risks. In such cases, their interest in “safe haven” assets is decreasing.



Outlook for USD/JPY still remains mixed

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29 Jul 2021

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8 Jul 2021

USDJPY H4: Do bears have enough fuel in the tank?

The Yen on the H4 time frame was in an uptrend until 17 June when a higher top was recorded at 110.823. Bears then started to take control and the market...

21 Jun 2021

USDJPY recoils to 50-SMA but upside risks still in force

USDJPY has formed a higher low around the mid-Bollinger band and the 50-day simple moving average (SMA), keeping the minor uptrend alive, which began...

9 Jun 2021

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