USD/JPY Outlook (20 July 2021)
ByJin Dao Tai
JUL 20, 2021
Overall, USD/JPY is ranging across. Recently, USD/JPY broke below the key level of 110 due to a global concern in a rebound in COVID cases.
The Japanese National Core CPI y/y data (Actual 0.2%, Forecast: 0.2%, Previous: 0.1%) released earlier today indicated a slight increase in annual inflation.
The Bank of Japan will be releasing its minutes for the recent monetary policy meeting tomorrow at 0750 (GMT+8).
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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