Japanese Yen: Next Week's Currency Loser

By FXstreet: By Richard C. Lee Although there are early indications that the Japanese yen may gain this week, there is ample fundamental data that is expected to bolster the Asian currency lower against the U.S. dollar - towards 84.00. The notion could work well when additionally taking into consideration near term technical support. Dollar side data is anticipated to bolster further momentum in the greenback, particularly against the yen the current week. U.S. housing sector data is expected to show further signs of stabilization - building on notions of a U.S. recovery. In addition, durable orders declines in October are anticipated to remain subdued, even though following on the heels of an almost 10% surge in September. But, more importantly Japanese yen bears will be eyeing U.S. growth. U.S. gross domestic product is expected to be revised higher in the second...