In Japan, Household Spending MoM refers to the monthly change of consumption expenditures (on food, housing, utilities, furniture, clothing, health, education, transport, communication, leisure activities, etc.) in real terms for two-or-more-person households including agricultural, forestry and fisheries households.
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.