USD/JPY
USD/JPY Fundamental Analysis Jan. 23, 2012, Forecast

USD/JPY Fundamental Analysis Jan. 23, 2012, Forecast

Close of the Asian Session

Economic Events: (GMT)

Chinese Markets are closed for the Lunar New Year

Jan. 22 18:50 JPY Trade Balance

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.

19:30 AUD PPI (QoQ)

The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation.

A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.

Jan. 23 22:00 JPY Interest Rate Decision

Bank of Japan (BOJ) policy board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the JPY, while a lower than expected rate is negative/bearish for the JPY.

Analysis and Recommendation:

USD/JPY was trading 77.13 with the USD lower against the Japanese Yen on Friday

The pair seem to be in hibernation this week. What little life they have shown has been in reaction of EU, and the greenbacks overall market activity. The BoJ is scheduled to make a statement on Monday, but no changes are expected. The policy decision is forecast to be a hold.

Upcoming Govt Bond Sales Dates

Jan 23 10:10 Norway Nok 6.0bn 4.25% May 2017 bond

Jan 23 10:10 Slovakia Auctions Apr 2014 bond

Jan 23 10:30 Germany Eur 3.0bn Jan 2013 Bubill

Jan 23 12:00 Norway Details bond auction on Jan 30

Jan 24 09:30 Netherlands Eur 1.5-2.5bn Jan 2013 & Jan 2042 DSL

Jan 24 09:30 Spain Auctions 3 & 6M T-bills

Jan 24 16:30 Italy Details CTZ/BTPei on Jan 26 & BOT on Jan 27 &

Jan 24 18:00 US Auctions 2Y Notes

Jan 25 10:10 Sweden Nominal bond auction

Jan 25 10:30 Germany Eur 3.0bn 3.25% Jul 2042 Bund

Jan 25 16:30 Italy Details BTP/CCTeu on Jan 30

Jan 25 18:00 US Auctions 5Y Notes

Jan 26 10:10 Italy Auctions CTZ/BTPei

Jan 26 18:00 US Auctions 7Y Notes

Jan 27 10:10 Italy BOT auction

USD/JPY Pivot Points (Time Frame: 1 Day)

 Name  S1  S2  S3  Pivot  R1  R2  R3

 Classic
76.8290
76.4465
76.1980
77.0775
77.4600
77.7085
78.0910

 Fibonacci
76.8365
76.6875
76.4465
77.0775
77.3185
77.4675
77.7085

 Camarilla
77.1537
77.0958
77.0380
77.0775
77.2693
77.3272
77.3850

 Woodie's
76.8960
76.4800
-
77.1110
77.5270
77.7420
-

 DeMark's
77.5842
-
-
-
76.9532
-
-