JPY Takes a Pause – Overview for July 04, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPY_6-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="USD/JPY analysis today" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">USD/JPY</a> pair has been consolidating near its recent highs for the fourth consecutive session.</p>

<p>The Japanese yen takes a break from its devaluation. Currently, the USD/JPY quote stands at 144.59.</p>

<p>Over the past four days, there has been no significant change in the yen's value, with the dominant scenario still favoring devaluation, and no apparent reasons for a correction.</p>

<p>Yesterday's released statistics revealed that the Tankan non-manufacturing index climbed to 23 points in the second quarter, surpassing the previous 20 points and exceeding initial forecasts. Similarly, the index for the largest manufacturers expanded from 1 to 5 points. Tankan surveys are highly regarded due to their extensive coverage, involving over 8,000 companies in the manufacturing sector, making them one of the most reliable reports among similar releases.</p>

<p>This week, there is no significant data expected from Japan until Friday. The crucial report on household spending, along with data on average wages and leading <a href="https://blog.roboforex.com/blog/2019/11/07/economic-indicators-the-basis-for-forex-trading-strategy/" data-internallinksmanager029f6b8e52c="94" title="Economic Indicators">economic indicators</a>, will be released then.</p>

<p>The Bank of Japan's ultra-loose monetary policy continues to be a key factor influencing the yen's performance. As the focus eventually shifts to the <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> differential, it is anticipated that the JPY will resume its decline.</p>

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