USD/JPY improved for a second straight week, as USD/JPY closed at the 119 line. This week’s highlights are the Tankan indices. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY.

In Japan, inflation remains at low levels, while Retail Sales missed expectations. In the US, key data painted a mixed picture. Inflation beat expectations and New Home Sales were also stronger than expected. However, durable goods orders were weak and GDP missed the estimate.

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