USD/JPY showed limited movement for a fourth straight week, as the pair finished the week almost unchanged, at 123.08. The upcoming week has eight events. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY.
Federal Reserve chair Janet Yellen provided broad hints that the Fed will raise rates next week, as she took note of the strong job market numbers and didn’t sound concerned about persistently weak inflation. The critical NFP came in above expectations, but both PMI reports disappointed. In Japan, Retail Sales posted a strong gain of 1.8%, its best showing in five months.
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