US data will dictate the mood for USD/JPY – OCBC

FXStreet (Barcelona) - Research Analysts at OCBC Bank note that the US data calendar may dictate the mood for the USD/JPY pair this week.

Key Quotes

“The fairly busy US data calendar (including 3Q GDP on Tuesday) may dictate mood for the pair this week with hints of official discomfort towards excessive yen weakness not expected to gain much traction in the markets.”

“Look towards BOJ MPC minutes due on Tuesday to shed more color and although TKY is away for a long weekend today, dips towards 116.90 may be met with buying interest. On the CFTC front, net leveraged JPY shorts increased in the latest week with markets not expected to let up just yet on JPY bearishness.“