The Japanese yen showed some movement last week, but was almost unchanged at the end of the week. USD/JPY closed at 121.14. The upcoming week has seven events on the schedule. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY.
After months of intense speculation, the Federal Reserve raised interest rates by 0.25 percent. The historic rate hike was not dovish, as this small hike is just the start, with plans for additional hikes in 2016. The yen lost ground after the rate hike, but recovered late in the week after the BOJ announced some changes to its monetary policy, including the purchase of ETFs.
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