JPY Weekly Forecast (Feb. 10 – 14)

Partner Center Find a Broker

forex guide

Positive risk updates and weak domestic data weighed on the yen last week. Will the bears up their game this week?

Here are potential catalysts you should know about:

Lower-tier data

  • Economy Watchers’ sentiment (Feb 10, 5:00 am GMT) could dip from 39.8 to 39.2 in January
  • Preliminary machine tool orders (Feb 12, 6:00 am GMT) ticked higher from -37.9% to -33.6% back in December
  • Annualized PPI (Feb 12, 11:50 pm GMT) is expected at 1.5% vs. 0.9% December

Overall risk appetite

  • Coronavirus updates and its impact on the global economy will continue to affect risk sentiment
  • Top-tier reports such as the U.S. CPI and retail sales, U.K. GDP, and Lagarde’s speech can also dictate demand for low-yielding bets
  • Powell’s testimony in D.C. on Tuesday and Wednesday can make or break USD/JPY’s trend and influence other yen crosses in the process

Technical snapshot

  • Williams %R considers JPY “oversold” against USD and “overbought” against NZD

  • CAD/JPY and GBP/JPY are trading below their 50 SMAs but above their 200 EMAs on the daily time frame. Watch out for potential retracement or reversal opportunities

Missed last week’s price action? Read JPY’s price recap for February 3 – 7!

CLICK THE FOLLOWING LINK AND READ AGAIN.

Drop your queries here! ↴ we will answer you shortly.