Overall, USD/JPY is trending upwards.

The Japanese flash manufacturing PMI data (Actual: 50.6, Forecast: 50.0, Previous: 49.8 revised from 49.7) released earlier today indicated a recovery of the manufacturing sector from the contractionary level into the expansionary level.

Currently, USD/JPY is testing the resistance zone of 105.800 and the next support zone is at 104.600.
Look for selling opportunities of USD/JPY if it bounces off the resistance zone of 105.800.

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By Jin Dao Tai

JinDao Tai is an Entrepreneur, Award-Winning Forex Coach & Trainer, International Speaker and Multi-Million Dollar Trader. Starting out his career as an economic & financial consultant in Australia, one day he decided to change his life and pivoted into multiple entrepreneurship endeavours and eventually into managing a multi-million dollar portfolio.

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