JPY

US dollar sinks as inflation cools. USD/JPY plunges

• USD/JPY longs clear out

USDJPY Technical Analysis – The bullish bias remains intact

• The USDJPY pair continues to edge higher amid a lack of bullish drivers for the Yen. What’s next?

Japan's core machinery orders missed estimates for a rise m/m in May - recap

• Cabinet Office cut its view on machinery orders, saying signs are that a pick-up is stalling.

Japan Core Machinery Orders (May 2024) -3.2% m/m (vs. expected +0.8%)

• A leading indicator of capital spending in the coming six to nine months

GBPJPY continues its run to the upside. Hints of a top yesterday....fails

• Buyers in the GBPJPY keep the trend move trucking to the upside. What next?

BOJ will likely project inflation will stay around its 2% target in coming years

• Forecast for what to expect from the BoJ at its July 30 / 31 meeting

Japan PPI (June 2024) +0.2% m/m (expected +0.4) and +2.9% y/y (expected +2.9%)

• The PPI is also referred to as the Corporate Goods Price Index, its published by the Bank of Japan.

GBPJPY still remains above the 100-hour MA but sellers are showing some signals

• The low today skimmed the 100 hour MA at 205.878

USDJPY catches a bid and stretches the bullish bias

• The price of the USDJPY has now moved above a swing area between 161.27 and 161.39

More on the BOJ meetings with JGB market players

• Meetings are aimed at gauging a realistic pace for a reduction of its bond purchases

Japan finance minister Suzuki says fiscal discipline important

Here's a forecast for USD/JPY to drop to 152 by the end of 2024

• Rabobank

Has the song remained the same for the technicals driving the GBPJPY trend move higher?

• The 100-hour MA did a good job attracting buyers today in the GBPJPY

BOJ maintains economic assessment for 5 of Japan's 9 regions in latest 'Sakura Report'

• The assessment for 2 regions were raised while 2 more were cut in the report released today

Japan inflation adjusted wages -1.4% y/y in May

• Inflation adjusted wages are 'real' wages