Forex Weekly Outlook

The Japanese yen has been a mixed bag since November 2016 when pairs like the EURJPY saw a gain of more than 1,100 pips. Then came the 900 pip pullback over four months which triggered yet another 1,000+ pip rally in mid-April. To say the pair has been not only active but also erratic would be an understatement. Or would it? The pair has been overly active since November of last year. But to call the last eight months erratic suggests a degree of unpredictability which implies a lack of constructive price action.