USD/JPY Outlook (22 September 2021)
ByJin Dao Tai
SEP 22, 2021
Overall, USD/JPY is ranging across.
The Bank of Japan (BoJ) will be announcing their monetary policy decision later at a tentative timing. It is expected that the central bank will keep its monetary policy unchanged with Japan still facing negative inflation at the moment and also with the upcoming leadership ballot for the next Prime Minister.
Japanese banks will be closed tomorrow in observance of Autumnal Equinox Day. Expect lower trading volume and volatility during the usual Japanese market hours.
Currently, USD/JPY is moving down towards the key level of 109. Its next support zone is at 108.800 and the next resistance zone is at 110.800.
If USD/JPY breaks below the key level of 109, look for short-term selling opportunities up until the U.S. FOMC monetary policy decision announcement tomorrow at 0200 (GMT+8).
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