USD/JPY Outlook (18 June 2021)
ByJin Dao Tai
JUN 18, 2021
Overall, USD/JPY is trending upwards. Recently, USD/JPY rejected the resistance zone of 110.800.
The Bank of Japan (BoJ) will be announcing their monetary policy decision later at a tentative timing. The central bank is expected to hold monetary policy unchanged. With the slow vaccination progress in Japan, the BoJ is unlikely going to follow the footsteps of some of its counterparts in tightening monetary policy for the time being.
A press conference will also be held after the announcement at a tentative timing. During this time, there may be volatility in JPY.
USD/JPY’s next support zone is at 108.500 and the next resistance zone is at 110.800.
Look for short-term buying opportunities of USD/JPY.
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