JPY

Japanese Yen Bias: Positive-to-Neutral

Pressure on risk appetite to benefit the #1 safe haven Yen due to

Suspiciously lenient EU bank stress tests to boost risk aversion and safety currencies like the JPY, as the tests raise the likelihood of more negative surprises from EU banks

Warnings from Bernanke on risks of slowing US growth

Waning affects of US earnings season as good results now priced in

Other potentially bearish market movers for the coming week as noted above

Rising Yen over the past year threatens Japanese exports and thus economic recovery. BoJ verbal intervention becoming more likely as rising JPY hurts exports

Improving spending and growth data balanced by deflation threat

Thanks Ashraf
Just what I was waiting for. However, last bottom was 13.4, going 13.3 then possibly higher. Let's see.

Good call Ashraf.
Any predictions on where to sell JPY/NOK? See it have a hard time to go below 0.0700

Regards

@ ashraf & cat,

Thx