The USD/JPY pair rose slightly on Monday afternoon, but is still close to multi-week lows.
On Monday, the Japanese yen is retreating, but this movement does not substantially change the balance of forces in the USD/JPY pair. The multi-week lows are still too close. The current price of the pair is 117.29.
Morning statistics showed that industrial production in Japan at the end of November fell by 0.9% m/m against the forecast of a drawdown of 1.0% m/m. yearly the index added 1.7% while expecting growth of 1.6%. The index of business activity in the service sector in November sank by 0.8%.
The regional report on the state of the Japanese economy presented this morning showed that in eight of the nine regions of Japan there are signs of recovery. In large cities, there are signals about a rise in salaries, but there is still no fundamental solutions to raise the level of the base salary. Some optimism can be seen in large companies, but small companies still remain cautious in the forecasts and expectations.
The Japanese yen is still mainly moved by the behavior of the US dollar. This week is expected to be fairly informative: the macroeconomic calendar contains a large amount of meaningful statistics.
RoboForex Analytical Department
Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.