Economic data due from Japan today kicks off at 2350GMT with the International Transactions in Securities data

This doesn't tend to have much an immediate FX market impact

  • Japan Buying Foreign Bonds
  • Japan Buying Foreign Stocks
  • Foreign Buying Japan Bonds
  • Foreign Buying Japan Stocks

Much later in the day we get the leading and coincident indexes for June (preliminary). These are also relatively non-impactful.

USD/JPY is getting close to testing June highs. The catalyst for this move up this week would seem to be (IMO ... though there is more than one) the labor cash earnings data, which on the face of it was a very poor result, which must raise doubts about Japan's exit from deflation.