USD/JPY rebounded last week with strong gains, as the yen lost over 200 points. The pair closed at 121.47. There are nine events this week. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY.
US housing numbers were mixed and manufacturing numbers slipped, but the FOMC minutes were optimistic in tone, as policymakers remain confident that Q2 will outperform a disappointing Q2. Over in Japan, Preliminary GDP beat the estimate, but this wasn’t enough to stop the yen’s slide.
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