After two losing weeks, Dollar/yen rebounded and gained close to one percent. In Japan, the highlight of the upcoming week is GDP for the second quarter, which is projected to slide by 8.1%. . USD/JPY fundamental mover Japan Industrial Production was stronger than expected, with a strong gain of 8.0%. This easily beat the estimate of 5.0%. Retail sales posted a fifth consecutive decline, falling by 2.8%. The Manufacturing PMI was revised to 47.2, up from 46.6 points. Still, this points to contraction. In the US, last week’s numbers were positive. Manufacturing PMI improved to 56.0, up from 54.2 points. The Services PMI also pointed to expansion, but slowed to 56.9, down from 58.1 beforehand. Unemployment claims dropped below the 1-million mark with a reading of 886 thousand. Nonfarm payrolls slowed to 1.371 million, but was very close to the estimate of 1.374 million. The unemployment rate fell sharply to 8.4%, down from 10.2%. This marked the first single-digit reading since April, prior to the Corvid-19 pandemic. There was more good news from wage growth, which rose from 02% to 0.4%. See all the main events in the Forex Weekly Outlook Key news updates for USD/JPY Updates: USD/JPY Technical Analysis 108.88 has provided resistance since early June. 107.97 is protecting the 108 line. 107.18 (mentioned last week) is next. 106.44 is an immediate resistance line. 105.45 has switched to a support role after strong gains by USD/JPY last week. 104.50 has some breathing room in support. 103.52 is the final support line for now. . USD/JPY Daily Chart USD/JPY Sentiment I am bullish on USD/JPY The US dollar flexed some muscle last week, as the US economy is showing signs of recovery. With the Japanese economy struggling, the US dollar rally could continue. Follow us on Sticher or iTunes 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. Forex+ weekly forecast – Outlook for the major events of the week. 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. MajorsUSD JPY ForecastWeekly Forex Forecasts share Read Next Forex Weekly Outlook Sep. 7-11 – Central bank rate decisions and GDP in focus Kenny Fisher 1 year After two losing weeks, Dollar/yen rebounded and gained close to one percent. In Japan, the highlight of the upcoming week is GDP for the second quarter, which is projected to slide by 8.1%.. USD/JPY fundamental mover Japan Industrial Production was stronger than expected, with a strong gain of 8.0%. This easily beat the estimate of 5.0%. Retail sales posted a fifth consecutive decline, falling by 2.8%. The Manufacturing PMI was revised to 47.2, up from 46.6 points. Still, this points to contraction. In the US, last week's numbers were positive. Manufacturing PMI improved to 56.0, up from 54.2 points. The… Top 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.
