USD/JPY reversed directions last week, losing about 80 points. USD/JPY closed the week at 120.58. The upcoming week is a quiet one, with six events on the schedule. Here is an outlook on the major events moving the yen and an updated technical analysis for USD/JPY.
In Japan Retail Sales disappointed with a decline of 0.2%, missing expectations. Japanese inflation indicators continued to point to deflation in the economy. In the US, workers wages were up sharply in Q3, as the Employment Cost Index posted a gain of 0.6%. UoM Consumer Sentiment improved to 90 points, within expectations.
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