From a sleepy currency pair, dollar/yen turned into an unstoppable mover. Will it consolidate or continue rallying? Retail sales and household spending are the major events this week. Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY. Last week Japan’s yearly trade deficit hit a record high of 1.48 trillion yen, posing a major risk to the Japanese economy while Adjusted Merchandise Trade Balance showed a deficit of 612.8 billion yen, beating predictions of 847.8 billion yen deficit. Nevertheless these readings are worrisome for Japan indicating recovery is a long way off. USD/JPY ... (full story)