The U.S. dollar rebounded nicely last week, as Dollar/yen climbed 2.5% last week. This week’s highlights are the Bank of Japan rate decision, U.S. retail sales and the FOMC statement. . USD/JPY fundamental mover Japan’s economy contracted 1.8%, a sharper decline than the forecast of -1.7%. This marked the first decline in five quarters and points to weakness in the Japanese economy. The coronavirus outbreak has led to a full-blown national emergency in the U.S. President Trump banned flights from Europe, which sapped risk appetite and sent investors scurrying to the U.S. dollar. Inflation levels remained low in February, with CPI coming in at 0.1% and Core CPI at 0.2%. Consumer confidence dropped sharply in February, falling from 100.9 to 95.9 points. 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 111.69. 110.62 is next. 109.73 has switched to a resistance role after sharp gains by USD/JPY last week. 108.70 (mentioned last week) was breached at the end of the week. 108.10 is an immediate resistance line. 107.30 is providing support. 106.61 is next. 105.55 has some breathing room following strong gains by USD/JPY last week. 104.65 is the final support line for now. USD/JPY Daily Chart USD/JPY Sentiment I am bullish on USD/JPY The Japanese yen is a safe-haven asset, but investors were seeing all green last week, as the U.S. dollar enjoyed broad gains, including versus the yen. As well, the Japanese economy is dependent on trade with China, so the economic upheaval in China is weighing heavily on the Japanese economy. 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 Total number of confirmed cases of coronavirus in Italy rises to 24,747 from 21,157 on Saturday FX Street 2 years The U.S. dollar rebounded nicely last week, as Dollar/yen climbed 2.5% last week. This week's highlights are the Bank of Japan rate decision, U.S. retail sales and the FOMC statement.. USD/JPY fundamental mover Japan's economy contracted 1.8%, a sharper decline than the forecast of -1.7%. This marked the first decline in five quarters and points to weakness in the Japanese economy. The coronavirus outbreak has led to a full-blown national emergency in the U.S. President Trump banned flights from Europe, which sapped risk appetite and sent investors scurrying to the U.S. dollar. Inflation levels remained low in February, with CPI… 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.
