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: 51.5, Forecast: 53.2, Previous: 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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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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