Japan’s exports grew by 10.1% in May from a year earlier, the most since 2010. A weak yen helped boost Japan’s economy. Asian stocks rose on the news, with the Nikkei opening 1.7% higher.
Eyes will be on the FOMC and whether the Federal Reserve will show a greater willingness to taper its asset-purchase program in the second-half of the year. The FOMC statement, the forecasts and the Chairman Bernanke’s press conference will be closely watched as they will provide guidance and insight on the Fed’s future monetary policy.
Trade Idea
USDJPY
The pair may attempt a break of the 95.75 resistance level. A break and close above this level on the four hour should have the pair targeting the 96.15 and 97.00. Trading this pair before and during the FOMC meeting should be met with caution as there will be excess volatility in the market.
USD/JPY" width="981" height="682">
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Japan's Exports Rise 10%
Published 06/19/2013, 05:56 AM
Updated 04/25/2018, 04:40 AM
Japan's Exports Rise 10%
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