The USD/JPY pair ended last week with gains after the BOJ intervened in the FX market and sold the yen, in order to push the currency down against the dollar to save Japanese exporters from further losses.
On the other hand, the Japanese officials indicated that the door remains open for more intervention until the currency reflects the real economic situation. While other major currencies used this current weakness in the yen to record more gains against the currency.
On Monday at 04:00 GMT, Japan will issue the Coincident Index for September, where the preliminary reading is expected to come at 92.8 from the previous reading of 107.6.
The U.S. economy will release the Consumer Credit for September at 19:00 GMT, where it’s expected to come at $5.00 billion from the previous reading of – $9.501 billion.
