The USD/JPY pair fluctuated last week after it recorded its lowest level in two months, as both of the yen and the greenback recorded gains against other majors.
On the other hand, fears regarding the EU debt crisis fueled risk aversion, and increased demand for safe assets to support the dollar and the yen against higher-yielding currencies.
The USD/JPY pair’s movements will depend on the next move from the BOJ, or the dollar performance against other majors in case the BOJ kept its monetary policy unchanged.
On Monday at 20:00 GMT, the U.S. economy will release the Consumer Credit for November, where it’s expected to come at $7.00 billion from the prior reading of $7.645 billion.
Originally posted here
