USD / JPY
The main news in the Japanese financial market was the statement by Japan's Central Bank head Haruhiko Kuroda about the intention of the monetary authorities to begin the curtailment of the QE program by the end of 2018 fiscal year (April 2019). On this statement, the Nikkei225 lost 2.50% on Friday, and the yen came in at 47 points, as it currently declines by 97 points. On Monday, the general strengthening of the dollar and the growth of stock markets caused the yen to grew by 46 points. The yen again is hoping for some growth.
On Thursday, Japan is expected to have a good economic performance. The balance of payments in January estimate is projected at 1.76 trillion yen against 1.48 trillion in December. Japan's GDP for the fourth quarter is expected to be 0.2% vs. 0.1% in the previous period. The index of the current economic situation assessment of Eco Watchers for February is expected to increase from 49.9 to 50.6. We are expecting for the yen to rise to 107.40 and further to 108.00.
* The presented market analysis is informative and does not constitute a guide to the transaction.
