For a third straight week, Dollar/yen showed little movement. On the fundamental front, Japan releases Household Spending, an important gauge of consumer spending. In the U.S., this week’s highlights are the ISM Non-Manufacturing PMI and the Producer Price Index. USD/JPY fundamental mover Japanese numbers were soft, reflective of weak conditions across the economy. Retail sales slipped 12.3%, following a decline of 13.7% beforehand. Industrial Production fell by 8.4%, marking a third straight decline. Both Tankan indices were in negative territory in Q2. The manufacturing index plunged to -34, down from -8 in the previous release. The services index dropped to -17, down from +8 in Q1. In the U.S., manufacturing improved sharply, as Manufacturing PMI climbed from 39.8 to 49.6 points. The estimate stood at 50.0, which separates contraction from expansion. Durable goods orders sparkled in May. The headline figure climbed 4.0%, rebounding after a decline of 7.4 percent. The core reading surged 15.8%, rebounding from a read of -17.2% beforehand. The Conference Board consumer confidence index jumped from 85.9 to 98.1 and easily beat the estimate of 91.6 points. Nonfarm payrolls shot up in June, with a gain of 4.80 million. This comes after a May release of 2.509 million. Unemployment claims dropped from 1.48 million to 1.42 million, higher than the estimate of 1.35 million. See all the main events in the Forex Weekly Outlook Key news updates for USD/JPY Updates: USD/JPY Technical Analysis 110.63 has been a resistance line since late March. 109.73 is protecting the 110 level, which has psychological significance. 108.70 (mentioned last week) is next. 108.10 switched to resistance in early June, when USD/JPY fell sharply. 107.30 remains an immediate resistance line. 106.61 is the first line of support. 105.55 has held in support since mid-March. 104.65 follows. The round number of 104 is the final support level for now. . USD/JPY Daily Chart USD/JPY Sentiment I am neutral on USD/JPY Despite the economic turmoil across the globe, the Japanese yen has not lived up to its safe-haven reputation. Surprisingly, risk currencies such as the Australian dollar have rallied. The US dollar has also hit a rough patch, as the human and economic toll that Corvid-19 has taken in the US has dampened enthusiasm for the greenback. Both currencies appear to be holding a “losing hand”. 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 White House Considers China Steps as Trump OK Awaited on Bill FX Street 3 years For a third straight week, Dollar/yen showed little movement. On the fundamental front, Japan releases Household Spending, an important gauge of consumer spending. In the U.S., this week's highlights are the ISM Non-Manufacturing PMI and the Producer Price Index. USD/JPY fundamental mover Japanese numbers were soft, reflective of weak conditions across the economy. Retail sales slipped 12.3%, following a decline of 13.7% beforehand. Industrial Production fell by 8.4%, marking a third straight decline. Both Tankan indices were in negative territory in Q2. The manufacturing index plunged to -34, down from -8 in the previous release. The services index dropped to… 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.