Japan's second quarter GDP was revised from +0.1% to -0.1%. This barely makes a difference to Japan's overall economic situation, other than the fact that it puts it officially in recession (two consecutive quarters of declining GDP).
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| Source: Tradingeconomics |
The yen remains relatively weak on these fundamentals, although technically USD/JPY has not been able to break the current resistance level. USD/JPY appreciation is held back by large spec short yen positions (
see discussion) that cover as the yen hits certain levels.
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| JPY per one dollar (source: Forexpros) |
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