USD/JPY dropped 150 points last week, as the pair closed just above the 103 level. There are 14 events this week. Here is an outlook for the highlights of this week and an updated technical analysis for USD/JPY.Â
The Fed refrained from raising rates last week, but the policy statement was slightly hawkish, as the Fed gave the economy a solid report card. US Non-Farm Payrolls were upbeat and wage growth improving to 0.3%, above the estimate of 0.2%. The BoJ stood pat and kept rates at -0.10%.
USD/JPY graph with support and resistance lines on it. Click to enlarge:
