Dollar/yen posted considerable gains for a second straight week. The pair pushed into 107-territory for the first time since early August. Will the dollar rally continue this week? The highlights for the upcoming week are U.S. consumer inflation and retail sales reports, while Japanese revised GDP for Q2 will also be of interest. USD/JPY fundamental movers In the U.S., weak activity in the manufacturing sector is raising concerns. ISM manufacturing PMI slipped to 41.9 in August, down from 51.2 in July. It marked the first reading in contraction territory (below the 50-level) since August 2016. Unemployment data was a mix. Nonfarm payrolls slowed to 130 thousand in August, down from 164 thousand a month earlier. However, wage growth rose to 0.4% in August, its strongest gain of the year. The unemployment rate remained unchanged at 3.7%. In Japan, household spending slowed to 0.8% in July, down from 2.8% 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 109.73, which has held in resistance since the end of May. 109.35 is close by. 108.70 follows. 108.10 was a swing low in late May. 107.30 has held in resistance since the first week in August. 106.61(mentioned last week) remains relevant. It is providing immediate support. 105.55 is next. 104.65 has held firm since the first week of January. The round number of 104 was a key line in May 2008. 103.53 was an important resistance line in August 2016. It is the final support line for now. USD/JPY Daily Chart USD/JPY Sentiment I am neutral on USD/JPY Investor risk appetite has solidified of late, which has hurt the safe-haven yen. Will the yen’s downward trend continue? The trade war between the U.S. and China remains full-blown, but the sides are scheduled to hold talks next month, and if there are signs that trade tensions are easing, the yen could lose 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 EUR/USD Forecast September 9-13 – ECB rate decision could shake up sleepy euro Kenny Fisher 4 years Dollar/yen posted considerable gains for a second straight week. The pair pushed into 107-territory for the first time since early August. Will the dollar rally continue this week? The highlights for the upcoming week are U.S. consumer inflation and retail sales reports, while Japanese revised GDP for Q2 will also be of interest. USD/JPY fundamental movers In the U.S., weak activity in the manufacturing sector is raising concerns. ISM manufacturing PMI slipped to 41.9 in August, down from 51.2 in July. It marked the first reading in contraction territory (below the 50-level) since August 2016. Unemployment data was a… 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.
