The yen stabilized in the mid-range

26.06.2015
The USD/JPY pair has stopped falling and stabilized. Now it is exactly in the middle of the medium-term trading range.

The Japanese yen has stopped abruptly changing direction in recent days. But it is likely not about the yen: all the key currencies are trading listlessly, while waiting for the Greek news. The dollar is reserving strength in the run-up jerk in one direction or another, and in spite of the almost one hundred percent assurance of the salvation of Athens, a percentage of risk is always there.

The desire to hedge risks, by the way, can partly explain the recent strengthening of the yen and its departure from the local minima.

This morning, data on inflation in Japan was published. In May, CPI rose 0.1% for the first time in two months. This news is positive and increasingly strengthens the idea that BoJ will maintain its current monetary policy and it will not be reviewed. The components of the report show that household spending last month strengthened by 4.8% taking into account the correction in the previous data. It turns out that consumer sentiment is becoming brighter, and it's a positive thing.

The labor market is stable. The unemployment rate in May was 3.3% in Japan. The number of available vacancies exceeds the number of unemployed by a factor of 1.19.

In general, it appears that the situation in the key macroeconomic indicators in Japan is stable, and for the market there is nothing here to look for the catalyst in movement. All attention is focused on Greece, the closest strong driver will come from there.
 
RoboForex Analytical Department

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