USD/JPY Outlook (08 June 2021)

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USD/JPY Outlook (08 June 2021)

ByJin Dao Tai

 JUN 8, 2021

USD/JPY Outlook (08 June 2021)

Overall, USD/JPY is trending upwards. Recently, USD/JPY broke below the key level of 110 after the release of the weaker than expected U.S. jobs report.

The Japanese Final GDP q/q data (Actual: -1.0%Forecast: -1.2%Previous: -1.3%) released earlier today indicated an upwards revision in the economic growth during the first quarter.

The Japanese Economy Watchers Sentiment data (Forecast: 33.9Previous: 39.1) will be released later at 1300 (GMT).

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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