USDJPY Weekly Forex Forecast - 29th Jan to 2nd Feb 2018

USDJPY Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

 

USDJPY Weekly Forex Forecast – 29th Jan to 2nd Feb 2018

Technical Outlook: The USDJPY finally extended the declines to the downside as price action touched down to the 108.43 support level. Off this level, we could expect to see a modest rebound taking place. USDJPY could remain range bound within the 110.66 resistance and 108.43 support. A breakout from either of these levels will signal the next leg in the direction of the trend. However, the bias is looking to the upside and we expect USDJPY to potentially retest the resistance level at 110.66 – 110.91 level. A breakout above this level could potentially keep USDJPY biased to the upside for further gain towards 112.07.

Fundamental Outlook: Data from Japan this week will focus on the unemployment rate numbers that will be coming out on Monday. The unemployment rate in Japan fell last month to 2.7%. although this was good news for the Japanese economy, the lack of wage pressures saw a muted reaction from the markets. The BoJ is pinning hopes that the shirinking unemployment rate could eventually push wages higher as the labor market conditions become tighter. We will also see some consumption data as the retail sales figures will be released. The BoJ’s measure of core CPI will be coming out on Tuesday and could offer a glimpse into the inflation data for the economy. Later in the week, the final manufacturing PMI numbers will be released..

Previous USDJPY Weekly Forex Forecast

USDJPY Weekly Forex Forecast – 29th Jan to 2nd Feb 2018


Claim Your $60 No Deposit Bonus Here

All you need is to have your live account verified!
Of course, you need to open a live account...

2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!

Broker #1

Broker #2

We use both of these brokers and proudly promote them!

NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.

Other Analysis Today
Learn and SHARE the Knowledge!
Click Here to Leave a Comment Below 0 comments
Advanced Forex Strategies



The AllPips Trend Indicator
100% Free Download
No Credit Card Required 



Tell Us Where to Send this Powerful indicator!

x