Dollar/yen posted slight losses last week. Japanese events tend not to have a significant effect on the pair, but investors will be keeping a close eye on the FOMC rate statement and nonfarm payrolls. USD/JPY fundamental movers Japanese inflation remains well below the BoJ target of 2.0 percent. The bank’s preferred inflation indicator, BoJ Core CPI, remained unchanged at 0.5%. The bank maintained rates at 0.00%, adding that it had no plans to raise rates before the spring of 2020. Retail sales improved to 1.0% in March, up sharply from 0.8% a month earlier. In the U.S, last week’s numbers were positive. Durable goods orders climbed 2.7%, crushing the estimate of 0.7%. Core durable goods orders gained 0.4%, marking a 9-month high. This was followed by a strong initial GDP release of 3.2% in Q1, well above expectations. This was much stronger than Final GDP for Q4, which came in at 2.2%. See all the main events in the Forex Weekly Outlook Key news updates for USD/JPY Updates: USD/JPY Technical Analysis We start with resistance at 115.55. This line was a high point in the first half of 2017 and remains an upside target. 114.60 was the high point in early October and has held in resistance since then. 114.25 was the high point in November. Close by, 113.80 was a resistance line in November. 113.15 was a swing high back in July. 112.73 was an important resistance line in October. 112.25 has held in resistance since December. 111.65 (mentioned last week) was active late in the week. Close by, 111.40 is providing support. 111.15 has provided support since early April. 110.40 is next. 109.35 was a cushion in mid-July. 108.70 was a cushion early in the summer and 108.10 was a swing low in late May. USD/JPY Daily Chart USD/JPY Sentiment I remain bullish on USD/JPY The global trade war continues to take a toll on the Japanese economy, in particular, the export and manufacturing sector. With the BoJ continuing its dovish stance, the safe-haven yen could remain listless unless risk apprehension jumps. Further reading: EUR/USD forecast – for everything related to the euro. GBP/USD forecast – Pound/dollar projections AUD/USD forecast – analysis for the Aussie dollar. USD/CAD forecast – Canadian dollar predictions Safe trading! Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher MajorsUSD JPY ForecastWeekly Forex Forecasts share Read Next USD/CAD Forecast April 29 – May 3 – No relief for Canadian dollar from dovish BoC Kenny Fisher 4 years Dollar/yen posted slight losses last week. Japanese events tend not to have a significant effect on the pair, but investors will be keeping a close eye on the FOMC rate statement and nonfarm payrolls. USD/JPY fundamental movers Japanese inflation remains well below the BoJ target of 2.0 percent. The bank's preferred inflation indicator, BoJ Core CPI, remained unchanged at 0.5%. The bank maintained rates at 0.00%, adding that it had no plans to raise rates before the spring of 2020. Retail sales improved to 1.0% in March, up sharply from 0.8% a month earlier. In the U.S, last week's numbers… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
