The U.S. dollar continues to post strong gains, and Dollar/yen climbed above 2.5% for a second straight week. This week’s highlights include Japanese inflation and U.S. manufacturing PMI and unemployment claims. . USD/JPY fundamental mover Japanese inflation remains at very low levels. BoJ Core CPI, the Bank of Japan’s preferred inflation gauge, dipped to 0.2% in February, down from 0.3% a month earlier. In the U.S., the Fed slashed rates at the start of the week, from 1.25% to 0.25 percent. This emergency cut was in response to the meltdown in the financial markets. Later in the week, the Fed announced it was establishing a Commercial Paper Funding Facility, in order to keep credit flowing to the economy. On the manufacturing front, the Empire State Manufacturing Index plunged by -21.5 points, compared to the forecast of +5.1 points. Core retail sales fell by 0.4%, while retail sales declined by -0.5%. See all the main events in the Forex Weekly Outlook Key news updates for USD/JPY Updates: USD/JPY Technical Analysis With USD/JPY posting sharp gains, we start at higher levels: 113.40 was the peak in October 2018. 112.73 has held in resistance since December 2018. This is followed by 112.25. 111.69 was tested in mid-February. 110.62 is an immediate support level. 109.73 has switched back to a support role after sharp losses by USD/JPY last week. 108.70 (mentioned last week) is next. 108.10 remains relevant. 107.30 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 continue to snap up U.S. dollars, which has enjoyed broad gains. China is a close trading partner of Japan, and the COVID-19 outbreak has taken a heavy toll 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 EUR/USD Forecast March 23-27 – Euro Crumples as Greenback Sparkles Kenny Fisher 2 years The U.S. dollar continues to post strong gains, and Dollar/yen climbed above 2.5% for a second straight week. This week's highlights include Japanese inflation and U.S. manufacturing PMI and unemployment claims.. USD/JPY fundamental mover Japanese inflation remains at very low levels. BoJ Core CPI, the Bank of Japan's preferred inflation gauge, dipped to 0.2% in February, down from 0.3% a month earlier. In the U.S., the Fed slashed rates at the start of the week, from 1.25% to 0.25 percent. This emergency cut was in response to the meltdown in the financial markets. Later in the week, the Fed announced… 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.