ByJin Dao Tai
AUG 16, 2021

Overall, USD/JPY is ranging across. Recently, USD/JPY broke below the key level of 110 due to the weakening of USD after the release of the poor Preliminary UoM Consumer Sentiment data.
The Japanese Preliminary GDP q/q data (Actual: 0.3%, Forecast: TBA, Previous: -1.0% revised from -1.3%) released earlier today indicated a recovering in economic growth during the second quarter.
USD/JPY’s next support zone is at 108.500 and the next resistance zone is at 110.800.
Look for short-term selling opportunities of USD/JPY.
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