Dollar/yen continues to show strong movement, climbing 1.4% last week. In the previous week, the yen had gained 1.0%. The upcoming week is not particularly busy. Investors will be keeping an eye on U.S. retail sales. USD/JPY fundamental movers Japanese consumer data was mixed. Average cash earnings recorded a second straight decline, with a reading of -0.2%. There was better news from household spending, which improved slightly to 1.0%. The Federal Reserve published the minutes of its September meeting, when the Fed lower rates by 25 basis points. FOMC members said that the risks to U.S. growth “were tilted to the downside.” Policymakers highlighted concerns about weak global growth, the toll of the U.S-China trade war and low inflation. The markets have priced in yet another rate cut – according to the CME Group, the likelihood of a 1/4 point rate cut in October stands at 75%. U.S. consumer inflation reports for September were a disappointment, missing their forecasts. The headline reading slipped to 0.0%, while Core CPI slowed to 0.1%. Inflation levels remain subdued, well below the Federal Reserve’s target of 2.0%. 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 111.62, which 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 has weakened and is an immediate resistance line. 108.10 switched to a resistance role late in the week, after USD/JPY posted gains. 107.30 has some breathing room in support. 106.61 is next. 105.55 has held in support since late August. 104.65 was last tested in January. It is the final support line for now. USD/JPY Daily Chart USD/JPY Sentiment I am bullish on USD/JPY Since late August, the U.S dollar has sustained only one losing week against the yen. This shows a lack of interest in the Japanese currency, despite the slowdown in the U.S. Still, any unexpected geopolitical developments could restore the attractiveness of the safe-haven 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 Cryptocurrency market update: Subdued trading action continues on Sunday, XRP/USD gains traction FX Street 4 years Dollar/yen continues to show strong movement, climbing 1.4% last week. In the previous week, the yen had gained 1.0%. The upcoming week is not particularly busy. Investors will be keeping an eye on U.S. retail sales. USD/JPY fundamental movers Japanese consumer data was mixed. Average cash earnings recorded a second straight decline, with a reading of -0.2%. There was better news from household spending, which improved slightly to 1.0%. The Federal Reserve published the minutes of its September meeting, when the Fed lower rates by 25 basis points. FOMC members said that the risks to U.S. growth "were tilted to… 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.
