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The yen consolidates before growth


The Japanese yen concentrates efforts in the technical range of 108.65-110.05 before further growth in the range of 110.85-111.10. Yesterday, the yen was declined by 32 points under the influence of the dollar, although stock indices showed growth and even the balance of payments. That is, there is a preparation for forces in the future. The US stock index S & P500 increased by 0.94%. The balance of payments takes into account the trillion yen to 1.77 trillion yen. The balance of payments excluding seasonal fluctuations increased from 2,076 trillion yen to 3,122 trillion. The forecast was 3.009 trillion.

Today, the money supply data showed an increase in the M2 aggregate by 3.3% YoY against the forecast of 3.2% YoY. The Japanese index Nikkei 225 gained 1.08%. During the Asian session We are looking forward to the yen's growth in the range of 110.85-111.10, but it is likely that the exit from this consolidation range will only occur on Tuesday. On Monday, the prices for Japanese corporate goods in the April assessment may drop to 2.0% from 2.1%, and in Tuesday, US retail sales are expected to grow by 0.4% in April.


* The presented market analysis is informative and does not constitute a guide to the transaction.

The material has been provided by InstaForex Company -