By FX Empire.com
The USD/JPY pair still trading in a limited range after it failed to sustain the upside move. On the other hand, the Japanese yen retreated against other major currencies as some optimism returned to the market.
Expectations that the EU leaders are still on the right path to contain the crisis is supporting the sentiment despite the downbeat German comments, but fears still exist regarding whether this plan will be sufficient or not.
On the other hand, the Japanese yen has its own battle where BOJ is still looking for the appropriate measure to prevent it’s currency from recording more gains and hurt the economy, as all the previous measures have failed.
On Thursday at 05:00 GMT, Japan will release the final reading of Coincident Index for August, which had a prior reading of 107.4, while the Leading Index had a previous reading of 103.8.
On Thursday at 12:30 GMT, U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased 404 thousand last week.
The Leading Indicators for September will released at 14:00 GMT and expected to slow to 0.2% from 0.3%. The Philadelphia Fed index is also due at 14:00 GMT and expected to improve to -9.5 from -17.5.
As for the Existing Home Sales for September it’s expected with a drop of 2.65% to 4.91 million from 5.03 million.
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