JPY Weekly Forecast – Geopolitical Tensions Between U.S. and China In Focus

JPY Weekly Forecast – Geopolitical Tensions Between U.S. and China In Focus

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FOREX SIGNALS

Lots of potential catalysts this week!

Who’s looking at the safe havens?

Here are the factors you need to watch if you’re planning on trading the yen.

Japan’s lower-tier releases

  • Household spending (June 4, 11:30 pm GMT) could see a 12.8% drop in April
  • Leading index (June 5, 5:00 am GMT) to weaken from 84.7 to 76.3 in April?

Overall risk sentiment

  • Pandemic updates (stimulus, reopening of economies, vaccine hopes) will continue to influence markets’ appetite for risk
  • Top-tier reports like RBA, BOC, and ECB’s statements, PMI releases, GDP and labor reports, and the U.S. NFP release can affect intraday swings of the safe-haven yen
  • Geopolitical tensions (U.S. vs China, China vs. Australia, Taylor Swift vs. Trump) can affect overall risk-taking
  • Worsening riots in the U.S. might eventually affect U.S. economic prospects and overall risk sentiment 

Technical snapshot

  • Stochastic is showing JPY’s “oversold” status against all of its counterparts except against the dollar (though it’s close)
JPY Forex Pairs Stochastic from MarketMilk
JPY Forex Pairs Stochastic from MarketMilk
  • Daily Keltner Channels are flagging JPY’s “oversold” conditions against the euro
  • Watch out for potential oversold signals against AUD and NZD
JPY Forex Pairs Keltner Channel from MarketMilk
JPY Forex Pairs Keltner Channel from MarketMilk
  • JPY’s 50 and 200 SMAs suggest the yen is “bullish but weakening” against AUD, NZD, CAD, GBP, and USD on the daily time frame
JPY Forex Pairs SMAs from MarketMilk
JPY Forex Pairs SMAs from MarketMilk
  • The yen saw the most volatility against the comdoll and the pound in the last seven days
JPY Forex Pairs Volatility from MarketMilk
JPY Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read JPY’s price recap for May 25 – 29!



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