Japan GDP misses expctations by 0.1% QoQ

Japan's Gross Domestic Product has been released that was expected to contract -1.2% in Q1, due to the state of emergency constraining household activity over the quarter.

The data arrived as follows:

Japanese GDP SA (Q/Q) Q1: -1.3% (exp -1.2%; prev 2.8%).

GDP Annualised (Q/Q) Q1: -5.1% (exp -4.6%Q; R prev 11.6%).

More to come...

USD/JPY technical analysis

As per the prior analysis, USD/JPY Price Analysis: Bullish commitments tested at daily support, the price is ripening for an upside extension:

USD/JPY daily chart

4-hour chart