USD/JPY Outlook (23 July 2021)

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USD/JPY Outlook (23 July 2021)

ByJin Dao Tai

 JUL 23, 2021

USD/JPY Outlook (23 July 2021)

Overall, USD/JPY is trending downwards.

Japanese banks will be closed today in observance of Health-Sports Day. Expect lower trading volatility and volume during the usual Japanese market hours.

The Japanese Flash Manufacturing PMI data (Forecast: TBAPrevious: 52.4 revised from 51.3) will be released next Monday at 0830 (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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