24.04.201808:30 Forex Analysis & Reviews: The sporting character of the yen

USD / JPY pair

Since the beginning of April, the yen has sought to move further away from the "nightmare below 106". Yesterday, this growth got a second wind. Under the influence of a large-scale strengthening of the dollar, the yen added 107 points. The American stock market closed mixed yesterday, instead of conceding to the leading growth of the USD/JPY pair. Yet today, the Asian markets are optimistic. The head of North Korea, Kim Jong-un agreed to accept the IAEA inspection of nuclear facilities for further work on the establishment of a nuclear-free zone of the Korean peninsula.

The index of business activity in the manufacturing sector of Japan rose from 53.1 to 53.3 in the preliminary assessment in April. The price index for corporate services fell to 0.5% y / y from 0.7% y / y in March. Further indicators such as tomorrow's PMI in all areas of the economy and industrial production on Friday are expected to be positive. Also on Friday, the Bank of Japan will take a decision on monetary policy, whereas investors expect to hear the confirmation of Haruhiko Kuroda's recent words about the unswerving continuation of quantitative easing to achieve targeted inflation on which the yen will receive a third breath. We are waiting for the yen to reach the level of 109.40 and then to 110.30.