The Yen is gaining weight quickly. Overview for 12.01.2017

The USD/JPY pair is falling on Thursday influenced by the neutral statistical reports published in Japan and the lack of demand for the USD.

On Thursday, the Japanese Yen is looking quite good and getting more expensive against the USD. The current quote for the instrument is 114.01.

Donald Trump’s yesterday press conference, which was rather neutral, counted against the USD in favor of other currencies, including the Yen. The Japanese currency is gaining weight, but is still moving inside the mid-term trading range, which was formed over the last five weeks.

Today’s statistics from Japan was rather positive. The Eco Watchers Survey Current in December in Japan improved up to 51.4 points after being 48.6 points the month before and against expectations of 49.3 points.

This indicator is based on sentiments in the service sector, notably – on the sentiments of the service providers themselves. Everything, which is higher than 50 points, a psychologically-crucial level, indicates improvements.

Another report showed that the Bank Lending in Japan in December increased by 2.6% y/y, which is more than the November reading and expectations as well.

RoboForex Analytical Department