Overall, USD/JPY is trending upwards.

The Japanese retail sales y/y data (Actual: -2.4%, Forecast: -2.6%, Previous: -0.2% revised from -0.3%) released earlier today indicated a further decline in consumer spending.

Currently, USD/JPY is testing the resistance zone of 106.000 and the next support zone is at 104.600.
Look for short-term selling opportunities of USD/JPY if it bounces off the resistance zone of 106.000.

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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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