USD/JPY Outlook (03 May 2021)

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USD/JPY Outlook (03 May 2021)

ByJin Dao Tai

 MAY 3, 2021

USD/JPY Outlook (03 May 2021)

Overall, USD/JPY is trending downwards. Recently, USD/JPY broke above the key level of 109.

Japanese banks will be closed today in observance of Constitution Day. Expect lower trading volatility and volume during the usual Japanese market hours.

Also, Japanese banks will be closed tomorrow in observance of Greenery Day.

USD/JPY’s next support zone is at 108.500 and the next resistance zone is at 110.800.

Look for buying opportunities of USD/JPY.

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