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USD/JPY Outlook (23 June 2021)

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USD/JPY Outlook (23 June 2021)

ByJin Dao Tai

 JUN 23, 2021

USD/JPY Outlook (23 June 2021)

Overall, USD/JPY is trending upwards. Recently, USD/JPY moved into the resistance zone of 110.800.

The Bank of Japan Core CPI y/y data (Actual: 0.0%Forecast: 0.0%Previous: -0.1%) released yesterday indicated no change in annual inflation.

The Japanese Flash Manufacturing PMI data (Actual: 51.5Forecast: 53.2Previous: 53.0 revised 52.5) released earlier today indicated a slowdown in the pace of expansion of the manufacturing sector in June.

Currently, USD/JPY is testing the resistance zone of 110.800 and the next support zone is at 108.500.

Look for buying opportunities of USD/JPY if it breaks the resistance zone of 110.800.

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