Just like the rest of the major currencies, the JPY saw mixed results during last week's trading sessions. The Yen saw a changing trend throughout the week, and by Friday it returned to its former price levels.
It appears that the Yen's volatility was due to the mixed results from the Japanese economy. Batches of both positive and negative data lead to a jumpy trading week. On one hand, better than expected Japanese Retail Sales figures and a better than expected Non-Manufacturing Index have shown that the Japanese economy might be doing better than many analysts claim.
On the other hand, the poor Manufacturing Index figures and the negative Core CPI result have questioned the stability of the economy. It seems that investors were left confused by the sharp differences of each publication, and a volatile session was inevitable.
As for this week, the most impacting data from the Japanese economy seems to be the Core Machinery Orders report, which is scheduled for Thursday. This report measures the total value of new private sector purchase orders placed with manufacturers. If the end result will reach expectations for a 2.2% growth, the Yen is likely to appreciate as a result.