The yen weakened, but "kept a stiff upper lip"
29.01.2015
On Thursday, the USD/JPY pair is trading with a slight increase, but still remains in the medium-term side-channel.
The Japanese yen "is doing well", despite the morning published statistics and comments of the Federal Reserve System.
It became known today that retail sales in December last year grew by only 0.2% y/y. Projections suggest that the indicator will increase by 0.9% y/y. Statistics were disappointing, but the yen is a proven "fighter."
And although the yen still held against background statistics, comments from the representative of the Ministry of Finance of Japan, Mr. Sugi disarmed it. The politician said that in any of its fiscal steps the Japanese government will consult with the BoJ and listen to the regulator. Previously it was thought that the Cabinet and the Bank of Japan are working in the same camp and do not require additional approval as they have a common objective.
The January meeting of the US Federal Reserve was generally neutral. Everything remained the same: the rate and forecasts and estimates. The only thing worth paying attention to is a slight improvement of economic forecasts. In addition, Janet Yellen again stressed that the regulator will be very careful and consistent in rates. That's all.
The USD/JPY pair will probably remain in a trading range of 116.40-119.00.
RoboForex Analytical Department
The Japanese yen "is doing well", despite the morning published statistics and comments of the Federal Reserve System.
It became known today that retail sales in December last year grew by only 0.2% y/y. Projections suggest that the indicator will increase by 0.9% y/y. Statistics were disappointing, but the yen is a proven "fighter."
And although the yen still held against background statistics, comments from the representative of the Ministry of Finance of Japan, Mr. Sugi disarmed it. The politician said that in any of its fiscal steps the Japanese government will consult with the BoJ and listen to the regulator. Previously it was thought that the Cabinet and the Bank of Japan are working in the same camp and do not require additional approval as they have a common objective.
The January meeting of the US Federal Reserve was generally neutral. Everything remained the same: the rate and forecasts and estimates. The only thing worth paying attention to is a slight improvement of economic forecasts. In addition, Janet Yellen again stressed that the regulator will be very careful and consistent in rates. That's all.
The USD/JPY pair will probably remain in a trading range of 116.40-119.00.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.