© Dukascopy Bank
During the trading week ended October 9, the USD/JPY pair was developing in a rather calm manner; however, some fundamental news from the United States was able to influence the pair's movements. The Dollar turned lower against the Yen on Wednesday as investors turned their attention to the minutes of the Federal Reserve's most recent meeting for further indications on the direction of monetary policy. The Greenback has come under pressure since last Friday's weaker than expected US jobs report prompted investors to push back expectations on the timing of an initial rate hike to next year. Meanwhile, initial jobless claims fell 13,000 to 263,000 for the week ended 3 October, hovering near a 42-year low. The four-week moving average fell 3,000 to 267,500. Continuing claims rose 9,000 to 2.2 million for the week ended 26 September.
Traders, however, were positively decided on pair's perspectives, as almost 56% of all votes were bullish.
The present working week is not supposed to be rich on Japanese data either. At the same time, USD-traders can look at retail sales and producer prices data on Wednesday, consumer prices, jobless claims and manufacturing activity in the Philadelphia and New York regions a day later and industrial production on Friday. In addition to that, khalidamassi claims "The USD/JPY still move in a range between 119 and 121 for the sixth week, pair still unable to break up or down, last week pair move the whole week in range of just 90 pips which is extremely low, till now there is no sign of explosion, but without clear break down 118.50, pair still bullish."
© Dukascopy Bank