Release Explanation: The overall household spending report measures the total amount spent by households on goods and services in Japan. A rising trend tends to have a positive influence on a nations currency because consumer spending is a major part of the overall health of the economy.

Trade Desk Thoughts: Household Spending in Japan declined by 5.9 percent in January, this is more than the 5.6 percent fall that analysts had expected. The largest declines seen were in the transportation and communication, as well as other consumption expenditures categories.

Forex Technical Reaction: The yen has fallen approximately 50 pips from the high of the previous day and is currently finding support just above the neutral pivot point.