The last trading week ended up for the Yen at around 94.50 against the USD having experienced ups and downs. The Yen`s session against EUR was also characterized as volatile. And finally the JPY fell against the GBP.

The results of the last business week in Japan appeared to be rather mixed. The Retails Sales index dropped for the 10th straight month revealing the fact that consumer condition in Japan remains weak. In other words, the Japanese do not believe that the worst of the global recession is in past.
Although the Japanese are cutting on expenses, the county`s economy still creates large export the industrial production figures rise despite the economic crisis.

Among this week`s economic events two indicators seem to be more relevant then the others. The Japanese Monetary Base is set to be released tonight. This indicator's figure seems to have impact on the Japanese interest rates, and thus traders tend to react to this publication. Also this week, the Leading Indicators index will be released on Thursday.