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The trade balance and current account balance for the month of May: Friday in Japan important macroeconomic data will be published. In our opinion, their preliminary forecasts are negative. Will this lead to the weakening of the yen? The graph is presented as a boost.
Japan last week's inflation data for May were released. They have already reduced the third consecutive month, which means deflation. We do not exclude that the chief Haruhiko Kuroda BOJ advise on plans for further stimulation of the Japanese economy during his speech, which will take place on Thursday. Recall that the BoJ objective is to achieve 2% inflation until March 2018. The monetary stimulation is done by issuing the yen and reducing the rate. That can weaken the Japanese currency. An additional factor may be the expected reduction of the positive trade balance of Japan in May to 56 billion yen in April. Data will be published on Friday.
In the daily time frame, USDJPY: D1 has updated the lowest since November 2013. The MACD and Parabolic INDICATORS continue to show signs of sale. Bollinger bands have expanded, which means high volatility. The RSI indicator has left the oversold area and has formed ohn bullish divergence. We do not exclude the upward movement of the yen if the rate exceeds the upper and second fractal signal Parabolic: 106.83. It can be used as an entry point this level. The preliminary risk limitation is possible below the last lower fractal and minimum of many months: 99. After opening a pending order, move the stop signals after Bollinger and Parabolic until the next fractal low. So, we change the potential profit / loss correlation in our favor. More cautious traders after the transaction can pass the four-hour chart and set stop-loss, moving in the direction of movement. If the price exceeds the level of the stop (99), without activating the command (106.83). It is recommended to remove the position: internal changes in the market that have not been taken into consideration take place.
Japan last week's inflation data for May were released. They have already reduced the third consecutive month, which means deflation. We do not exclude that the chief Haruhiko Kuroda BOJ advise on plans for further stimulation of the Japanese economy during his speech, which will take place on Thursday. Recall that the BoJ objective is to achieve 2% inflation until March 2018. The monetary stimulation is done by issuing the yen and reducing the rate. That can weaken the Japanese currency. An additional factor may be the expected reduction of the positive trade balance of Japan in May to 56 billion yen in April. Data will be published on Friday.
In the daily time frame, USDJPY: D1 has updated the lowest since November 2013. The MACD and Parabolic INDICATORS continue to show signs of sale. Bollinger bands have expanded, which means high volatility. The RSI indicator has left the oversold area and has formed ohn bullish divergence. We do not exclude the upward movement of the yen if the rate exceeds the upper and second fractal signal Parabolic: 106.83. It can be used as an entry point this level. The preliminary risk limitation is possible below the last lower fractal and minimum of many months: 99. After opening a pending order, move the stop signals after Bollinger and Parabolic until the next fractal low. So, we change the potential profit / loss correlation in our favor. More cautious traders after the transaction can pass the four-hour chart and set stop-loss, moving in the direction of movement. If the price exceeds the level of the stop (99), without activating the command (106.83). It is recommended to remove the position: internal changes in the market that have not been taken into consideration take place.
| Position | Buy |
| Buy stop | above 106.83 |
| Stop loss | below 99 |