The USD/JPY pair is moving inside the two-week trading range and waiting for new catalysts.
The Japanese Yen is looking rather stable against the USD on Tuesday. The current quote for the instrument is 112.54.
In the morning, Japan published quite an interesting report. So, the Eco Watchers Survey Current increased from 49.7 points in August to 51.3 points in September, although it was expected to reach only 49.9 points. The Indicator is calculated by the Japanese Cabinet Office and shows the current mood of businesses that directly service consumers. The September reading is the highest over the last 9 months, which is good for short-term tendencies estimations.
In other words, it means that the current economic situation in the Japanese economy is estimated as positive, without any risks.
Apart from this, the country reported on its Current Account in August, which was ¥2,380T. The components of the report showed that the Export added by 16.3% y/y (a bit slower) and the Import expanded by 15.1% y/y.
The Yen is pretty stable right now, which means that investors are not worrying about possible risks. The markets are looking calm and, as a result, the demand for “safe haven” assets is low.
RoboForex Analytical Department