Dollar/yen posted slight losses last week, as the pair closed just above the 111 line. Japanese events tend not to have a significant effect on the pair, but investors will still keep an eye on the BoJ minutes of the March meeting. The U.S. releases key consumer reports late in the week. USD/JPY fundamental movers Is a U.S-China trade deal around the corner? Negotiations continue, but investors remain in the dark as to when a historic deal could be sealed. If there are clear signs that a deal is near, risk appetite will rise, which could weigh on the safe-haven Japanese yen. U.S. employment numbers were mixed. Wage growth edged up to 0.2%, shy of the estimate of 0.3%. However, nonfarm payrolls sparkled, climbing to 263 thousand, up from 196 thousand a month earlier. The reading easily beat the forecast of 181 thousand. In the U.S, the Federal Reserve stayed on the sidelines, maintaining the benchmark rate. The rate statement noted that inflation pressures are muted and that the FOMC would remain patient regarding future rate movements. Fed Chair Jerome Powell reinforced this stance at a follow-up press conference, saying “we don’t see a strong case for moving in either direction”. The Fed is already on record as saying it does not expect to raise rates before 2020, and with inflation levels persistently below the Fed’s target of 2.0%, the Fed can afford to continue its wait-and-see stance. 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 115.55. This line was a high point in the first half of 2017 and remains an upside target. 114.60 was the high point in early October and has held in resistance since then. 114.25 was the high point in November. Close by, 113.80 was a resistance line in November. 113.15 was a swing high back in July. 112.73 was an important resistance line in October. 112.25 has held in resistance since December. 111.65 (mentioned last week) remains relevant. 111.40 is next. The pair broke through support at 111.15 late in the week. 110.40 is next. 109.35 was a cushion in mid-July. 108.70 was a cushion early in the summer and 108.10 was a swing low in late May. USD/JPY Daily Chart USD/JPY Sentiment I remain bullish on USD/JPY With the U.S. economy performing well, the yen will have a tough time attracting investors, unless risk appetite falls. The Japanese economy remains fragile, but the BoJ has indicated it does not intend to alter its monetary policy. 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 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 May 6-10 – Euro continues to drift Kenny Fisher 4 years Dollar/yen posted slight losses last week, as the pair closed just above the 111 line. Japanese events tend not to have a significant effect on the pair, but investors will still keep an eye on the BoJ minutes of the March meeting. The U.S. releases key consumer reports late in the week. USD/JPY fundamental movers Is a U.S-China trade deal around the corner? Negotiations continue, but investors remain in the dark as to when a historic deal could be sealed. If there are clear signs that a deal is near, risk appetite will rise, which could weigh on the safe-haven… 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.