Dollar/yen moved higher, as the pair enjoyed its strongest week since June. On the fundamental front, Japan releases GDP for the second quarter, with analysts braced for a decline of 7.5%. Japan’s trade deficit is expected to narrow to JPY 0.10 trillion. In the US, the Federal Reserve releases the minutes of its August policy meeting and we’ll get a look at Manufacturing PMI. . USD/JPY fundamental mover Japanese releases were all tier-2 last week. The current account surplus widened to 1.05 trillion, up from 0.82 trillion. This marked its highest level in four months. In the US, consumer inflation was unchanged at 0.6% in July. The core reading improved to 0.6%, up from 0.2% beforehand. There was good news on the employment front, as unemployment claims fell to 963 thousand, down from 1.186 million. This marked the first time that new claims have fallen below the 1-million mark since mid-March, before the spread of Covid-19. Retail sales reports were mixed. The core reading came in at 1.9%, above the estimate of 1.3%. However, the headline read posted a gain of 1.2%, shy of the estimate of 2.0%. See all the main events in the Forex Weekly Outlook Key news updates for USD/JPY Updates: USD/JPY Technical Analysis 109.73 (mentioned last week) is protecting the 110 level, which has psychological significance. 108.30 has provided resistance since early June. 107.22 is next. 106.05 is providing support. 105.13 is next. 104.29 has some breathing room in support. 103.52 is the final support line for now. . USD/JPY Daily Chart USD/JPY Sentiment I remain neutral on USD/JPY Both the US dollar and the Japanese yen are safe-haven assets, but investors have shown a surprising sentiment towards riskier currencies, despite the Covid-19 pandemic. If this trend continues, it could be a quiet week for the pair. Follow us on Sticher or iTunes 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. Forex+ weekly forecast – Outlook for the major events of the week. 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 Forex Weekly Outlook Aug. 17-21 – UK, Eurozone GDP releases show double-digit declines Kenny Fisher 2 years Dollar/yen moved higher, as the pair enjoyed its strongest week since June. On the fundamental front, Japan releases GDP for the second quarter, with analysts braced for a decline of 7.5%. Japan's trade deficit is expected to narrow to JPY 0.10 trillion. In the US, the Federal Reserve releases the minutes of its August policy meeting and we'll get a look at Manufacturing PMI.. USD/JPY fundamental mover Japanese releases were all tier-2 last week. The current account surplus widened to 1.05 trillion, up from 0.82 trillion. This marked its highest level in four months. In the US, consumer inflation… 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.
