Dollar/yen recorded considerable losses last week, as the yen climbed to a 3-week high. The upcoming week features the Bank of Japan’s preferred inflation gauge, BoJ Core CPI, as well as Japanese retail sales. . USD/JPY fundamental movers On the inflation front, BoJ Core CPI, the bank’s preferred inflation gauge, improved to 0.3% in December, up from 0.2% a month earlier. Japanese retail sales have been in decline since the introduction of a new sales tax in October. Retail sales fell 2.6% in December, compared to a 2.1% in November. This marked a third straight decline. In the U.S., it was a busy week. Durable goods orders jumped 2.4%, which was a 9-month high. However, the core release declined by 0.1%, shy of the estimate of 0.4%. The Federal Reserve maintained the benchmark rate, and Fed Chair Jerome Powell said that the “Fed is determined to avoid inflation persistently running below 2%.” This could be a hint of a rate hike in the next few months, which would be bullish for the U.S. dollar. Advance GDP for the fourth quarter came in at 2.1%, as expected. This was unchanged from the third-quarter figure. 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 112.25, which has held firm since December 2018. 111.62 has been a resistance line since April 2019. 110.62 is next. 109.73 has switched to a resistance role after losses by USD/JPY last week. 108.70 is an immediate resistance line. 108.10 is under pressure in support. It last saw action in the first week in January. 107.30 (mentioned last week) has provided support since October 2019. 106.61 is next. 105.55 is the final support level for now. USD/JPY Daily Chart USD/JPY Sentiment I remain bearish on USD/JPY The China coronavirus continues to spread and claim lives, and investors remain very concerned. Risk appetite has fallen and investors have snapped up safe-haven investments such as the Japanese yen. With no signs that the outbreak will soon be contained, the yen rally could continue. 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 What you need to know when markets open: Coronavirus headlines keeping markets on edge FX Street 2 years Dollar/yen recorded considerable losses last week, as the yen climbed to a 3-week high. The upcoming week features the Bank of Japan's preferred inflation gauge, BoJ Core CPI, as well as Japanese retail sales.. USD/JPY fundamental movers On the inflation front, BoJ Core CPI, the bank's preferred inflation gauge, improved to 0.3% in December, up from 0.2% a month earlier. Japanese retail sales have been in decline since the introduction of a new sales tax in October. Retail sales fell 2.6% in December, compared to a 2.1% in November. This marked a third straight decline. In the U.S., it was… 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.