The Yen was mixed in yesterday's forex trading, trading lower against the Dollar and unchanged versus the Pound and the EUR. A lack of economic data was a primary cause for a trend-less trading environment.
The USD/JPY finished the day lower at 93.90 from an opening day price of 94.18. The GBP/JPY closed at 145.06 while the EUR/JPY was at 125.64. Both of the currency pairs closed near their opening day prices.
Traders will have to wait until the end of the trading day to get any Japanese economic data releases. At 23:50 GMT, Japanese Retail Sales numbers are due to be released. Thursday will bring the release of inflationary data and Friday the Bank of Japan will announce the Overnight Call Rate. No change is expected in the rate but the accompanying rate statement may bring heavy market volatility. The USD/JPY has a major resistance level at the price of 94.80. A break of this price could propel the pair to the 97.80 price level.