Dollar/yen reversed directions in dramatic fashion, sliding 3.0% last week. This week’s highlights are U.S. nonfarm payrolls and wage growth. . USD/JPY fundamental mover As the coronavirus continues to spread, jittery investors flocked to the safe-haven Japanese yen. USD/JPY touched a low of 107.51 last week, its lowest level since early October. Although the U.S economy remains in good shape, reports of a coronavirus victim in the U.S. sent U.S. stock markets sharply lower and dragged the greenback lower as well. In the U.S., durable goods orders reports were mixed. The headline figure declined by 0.2%. This beat expectations but was much lower than the gain of 2.4% a month earlier. However, core durable goods orders jumped 0.9%, its strongest gain in seven months. Preliminary (second estimate) GDP came in at 2.1%, confirming the initial estimate. This points to respectable growth for the U.S. economy. 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 some breathing room following sharp losses by USD/JPY last week. 108.70 (mentioned last week) has switched to a resistance line. 108.10 is fluid, as USD/JPY ended the week just below this line. 107.30 is providing support. 106.61 has held in support since early October. 105.55 is the final support line for now. USD/JPY Daily Chart USD/JPY Sentiment I am neutral on USD/JPY The yen cashed in last week, as its safe-haven status was a magnet for nervous investors. At the same time, the coronavirus outbreak continues to take a toll on the Japanese economy, which could make the yen less attractive to investors. 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 AUD/USD Forecast March 2-6 – Slumping Aussie Falls to 11-Year Low Kenny Fisher 3 years Dollar/yen reversed directions in dramatic fashion, sliding 3.0% last week. This week's highlights are U.S. nonfarm payrolls and wage growth.. USD/JPY fundamental mover As the coronavirus continues to spread, jittery investors flocked to the safe-haven Japanese yen. USD/JPY touched a low of 107.51 last week, its lowest level since early October. Although the U.S economy remains in good shape, reports of a coronavirus victim in the U.S. sent U.S. stock markets sharply lower and dragged the greenback lower as well. In the U.S., durable goods orders reports were mixed. The headline figure declined by 0.2%. This beat expectations but 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.
