The Japanese yen stumbled upon the own economic problems.
Yesterday, the Japanese retail sales showed a decline -1.9% in May against the previous -0.8%.
Today, the industrial production fell by 2.3% in May against the forecast of 0.5%. The housing starts showed the growth 9.0% against the forecast of 4.8%.
As a result, the yen is traded near the level 102.80 the second day. Tomorrow, Japan is to publish a lot of interesting information, but the forecasts are disappointing.
The household spending is expected to decline by 0.2% in May against the growth by 0.2% in April. The Core CPI is expected to decrease by 0.4% against the previous 0.3%. Tankan indexes are expected to fall for the 2nd quarter: Tankan Large Non-Manufacturers from 22 to 19, Tankan Large Manufacturers from 6 to 4.
There is little hope for the growth of consumer confidence, but if the data from Chine will be better than the negative forecasts, the yen will show the active reduction.
Today the US is to publish data on Chicago PMI index - the forecast for the current month 50.7 against 49.3 in May.
How to trade
We would buy call options if the pair rises above 102.90. We would buy put options if the pair falls below 102.32.
Expiry time: 20:00 GMT