USD/JPY (week of 12-16/07)

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Weekly Summary

Dollar/Yen is trading around 110.08 after starting the week at zero (up 0%) .

A good end to the trading week, USD/JPY is up to 110.08 having started the week at 109.86, overall a 0% move or 11,008 pips this week. (Trade Dollar/Yen with FXTM now).

This move comes while some more positive signs for Dollar/Yen are out as United States Philadelphia Fed Manufacturing Index (Jul) published yesterday at 12:30 PM came out at 21.9, falling short of the 28 projections and continuing its decline from the previous 30.7 figure.

On the other hand, data for United States Retail Sales released today at 12:30 PM comes out at 0.6%, beating projections of -0.4% and showing improvement over the preceding figure of -1.7%. Data for United States Core Retail Sales released today at 12:30 PM comes out at 1.3%, beating projections of 0.4% and showing improvement over the preceding figure of -0.9%. United States Initial Jobless Claims matches expectations with new data release of 360,000. This is also a step forward from the previous data of 386,000.

More data out yesterday as Japan Interest Rate matches projections with new data release of -0.1. The indicator value is unchanged and is the same as previous data of -0.1.

Dollar/Yen shows positive signs, other assets are also on par:

Outlook for rest of the week: Market is looking forward for Japan Balance of Trade projected to outperform last figure with -91.20 billion, while it previously stood at -189.40 billion, figure will be published Monday. Japan Exports is expected Monday.

Jul. 16, 2021

Dollar/Yen is showing signs of life, up to 110.08 (22 pips)

(23:12) GMT

While in a downward trend of 3 days Today's positive session indicates a possible reversal – after starting the day at 109.86 Dollar/Yen went up to 110.34 only to drop back, yet still positive overall today, trading now at 110.08.

Dollar/Yen green move takes place amid mixed market indicators – data for United States Retail Sales released today at 12:30 PM comes out at 0.6%, beating projections of -0.4% and showing improvement over the preceding figure of -1.7%. Data for United States Core Retail Sales released today at 12:30 PM comes out at 1.3%, beating projections of 0.4% and showing improvement over the preceding figure of -0.9%.

More data out yesterday as Japan's Interest Rate published today at 2:56 AM came out at -0.1. The indicator value matched both the projected value and the previous data of -0.1.

As the day reaches an end a chart visual study suggests nearest resistance level is at 111.54. In terms of trend indicators, we can see that at 110, Dollar/Yen made an initial breakout above 50 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that The lower Bollinger band is at 109.64, indicating further gains might be next.

Overall, looking at the technical analysis landscape, it seems Dollar/Yen might continue pointing upwards in the short term.

A look at other markets also show green moves as new 6 months high for EUR/AUD at 1.5947.

At the same time, Dow up 300 points to 34,700 building up on its five days of gains.

Dollar/Yen has started this year by gaining 6%. A study on Dollar/Yen's past performance indicates that it is currently on a down trend that started around 6 months ago.

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