The Tankan Non-Manufacturing Outlook gauges business sentiment among non-manufacturing enterprises in Japan, reflecting their expectations for future economic activity. This survey, conducted by the Bank of Japan, is monitored as a measure of trends in the services sector, which can influence economic analysis and financial market expectations.
A higher than expected figure should be seen as positive (bullish) for the JPY while a lower than expected figure should be seen as negative (bearish) for the JPY.