Dollar/yen showed little movement last week. Investors are keeping an eye on Japanese inflation and retail sales reports. USD/JPY fundamental movers In Japan, the manufacturing sector continues to sputter. Manufacturing PMI was almost unchanged in October, with a reading of 48.6. The PMI has been in contraction territory since January. Over in the U.S., policymakers said that the Fed would take a break from recent rate cuts unless there was a significant change in economic conditions. The rate cut in October was considered hawkish, as the Fed took pains to reassure investors that the U.S. economy was in good shape, despite the rate cut. The minutes noted that U.S. economic conditions were generally positive, with an outlook of moderate growth, a robust labor market and inflation close to the Fed’s target of 2 percent. 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 is a weak resistance line. 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 am neutral on USD/JPY The U.S. and China have failed to reach an agreement on ending their nasty trade war, with conflicting signals as to the amount of progress that has been made in the talks. The Japanese economy remains weak, and it will likely take a rise in risk apprehension in order for the yen to gain ground. 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 USD/CAD Technical Analysis: Greenback battling with the 1.3300 handle near the November highs FX Street 3 years Dollar/yen showed little movement last week. Investors are keeping an eye on Japanese inflation and retail sales reports. USD/JPY fundamental movers In Japan, the manufacturing sector continues to sputter. Manufacturing PMI was almost unchanged in October, with a reading of 48.6. The PMI has been in contraction territory since January. Over in the U.S., policymakers said that the Fed would take a break from recent rate cuts unless there was a significant change in economic conditions. The rate cut in October was considered hawkish, as the Fed took pains to reassure investors that the U.S. economy was in good shape,… 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.
