09.05.201808:29 Forex Analysis & Reviews: Perseverance of the yen is rewarded

Long-term review

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USD / JPY

The Japanese yen continued to struggle in order to grow with the rest of the markets. Undoubtedly, the Japanese currency succeeded. The symbolic growth yesterday in anticipation of the final statement of US President Donald Trump towards Iran today turned into a full-fledged offensive. Today, the Japanese index Nikkei225 is down to 0.38% with the mixed close of US indices yesterday. But other Asian indices showed growth, along with them the yen is growing up. The Shanghai Composite gained 0.06%, S & P / ASX200 0.19%, and IDX Composite 0.23%, this happened despite the fact that yesterday's household spending data showed a decrease in the March estimate of 0.1% (-0.2% YoY ). However, wage data for March showed an increase from 1.0% YoY to 2.1% YoY this morning.

Tomorrow, we expect a more significant improvement in the macroeconomic picture of Japan. The forecast for the balance of payments is 1.62 trillion yen against 1.02 trillion in February. The index of the current economic situation assessment of Eco Watchers for April is projected at 49.2 points versus 48.9 in March.

We are looking forward to the growth of the yen in the range of 110.85-111.10.

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

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