Dollar/yen showed little movement last week, as the pair paused after showing strong volatility in the two previous weeks. In the upcoming week, investors will be keeping an eye on U.S. durable goods orders and consumer confidence. USD/JPY fundamental movers Japan’s consumer inflation remains subdued. National Core CPI dipped to 0.3% in August, down from 0.5% a month earlier. This was the indicator’s weakest gain since March 2017. BoJ Governor Kuroda noted that CPI is around 0.5%, well off the BoJ’s inflation target of 2.0%. Kuroda said that the bank would increase the monetary base until the bank’s target was met. There was disappointing news out of the U.S., as retail sales contracted in September. The headline reading declined by 0.3%, after a gain of 0.4% in the previous release. Core retail sales declined 0.1%, missing the estimate of 0.2%. There was no relief from the manufacturing front, as Philly Fed Manufacturing Index dropped to 5.6 in October, compared to 12.0 points a month earlier. 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 remains an immediate resistance line. 108.10 remains relevant and has switched back to a support role. 107.30 has some breathing room in support. This line switched to support in early October, at the start of the most recent dollar rally. 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 remain bullish on USD/JPY The U.S. economy may be showing signs of a slowdown, but there hasn’t been much to attract investors to the safe-haven Japanese yen. With a strong possibility that a Brexit deal is finally at hand and trade talks continuing between the U.S. and China, risk apprehension remains low, for now. 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 October 21-25 – Euro Climbs to 9-Week High on Greenback Weakness Kenny Fisher 3 years Dollar/yen showed little movement last week, as the pair paused after showing strong volatility in the two previous weeks. In the upcoming week, investors will be keeping an eye on U.S. durable goods orders and consumer confidence. USD/JPY fundamental movers Japan's consumer inflation remains subdued. National Core CPI dipped to 0.3% in August, down from 0.5% a month earlier. This was the indicator's weakest gain since March 2017. BoJ Governor Kuroda noted that CPI is around 0.5%, well off the BoJ's inflation target of 2.0%. Kuroda said that the bank would increase the monetary base until the bank's target was… 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.
