USDJPY Weekly Forex Forecast – 10th to 14th April 2017
Technical Outlook: The Japanese yen gained last week for a number of reasons with the risk aversion taking hold by Friday after news reports informed about the U.S. airstrikes against Syria. The risk aversion sentiment send USDJPY lower on the day but not before prices managed to post a modest recovery. Assuming that there are no further developments, USDJPY could be seen pushing higher but we need to see evidence of this. A close above 111.65 will signal a recovery towards 115.00 level. Watch the Stochastics which is currently in the oversold level and signaling an exhaustion to the downside.
Fundamental Outlook: Data from Japan this week will kick off with the current account details, which is expected to show a 1.79 trillion, compared to 1.26 trillion registered previously. Producer prices index data next week is also expected to show a solid headline print of 1.5%, compared to 1.0% in the previous month. Data from the U.S. will be dominating the flows in the USDJPY this week which includes consumer prices and retail sales figures.
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USDJPY Weekly Forex Forecast – 10th to 14th April 2017
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