Dollar/yen reversed directions last week, posting modest losses. Investors are keeping an eye on Japanese trade balance and Flash Manufacturing PMI. USD/JPY fundamental movers In Japan, Preliminary GDP for Q3 slipped to 0.1%, shy of the estimate of 0.2%. This was weaker than the Final GDP reading for Q2, which was 0.3%. In the U.S., last week’s highlights were consumer inflation and spending reports. CPI improved to 0.4%, above the estimate of 0.3%. This was the strongest monthly gain since March. The core reading ticked higher to 0.2%, up from 0.1%. This matched the estimate. Retail sales reports were mixed. Retail sales rebounded with a gain of 0.3%, up from -0.3% a month earlier. This beat the estimate of 0.1%. The core reading improved to 0.2%, up from -0.1%. However, it missed the forecast of 0.3%. 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 112.25. 111.62 was last active in April. 110.62 is next. 109.73 has held in resistance since the end of May. 109.35 is close by. 108.70 remains relevant. Currently, it is a weak support level. 108.10 is next. 107.30 (mentioned last week) switched to support in early October. 106.61 is next. 105.55 has held in support since late August. It is the final support level for now. USD/JPY Daily Chart USD/JPY Sentiment I remain bullish on USD/JPY There is cautious optimism that the U.S. and China could reach a trade deal shortly. Any agreement which would curb the nasty trade war would boost risk appetite and dampen sentiment for the Japanese yen. 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 UK election: Poll shows Conservatives hold the top spot – GBP/USD Positive FX Street 3 years Dollar/yen reversed directions last week, posting modest losses. Investors are keeping an eye on Japanese trade balance and Flash Manufacturing PMI. USD/JPY fundamental movers In Japan, Preliminary GDP for Q3 slipped to 0.1%, shy of the estimate of 0.2%. This was weaker than the Final GDP reading for Q2, which was 0.3%. In the U.S., last week's highlights were consumer inflation and spending reports. CPI improved to 0.4%, above the estimate of 0.3%. This was the strongest monthly gain since March. The core reading ticked higher to 0.2%, up from 0.1%. This matched the estimate. Retail sales reports were mixed.… 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.
