USD/JPY Outlook (08 June 2021)
ByJin Dao Tai
JUN 8, 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: 33.9, Previous: 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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