ByJin Dao Tai
JUN 29, 2021
Overall, USD/JPY is trending upwards. Recently, USD/JPY bounced off the resistance zone of 110.800.
The Japanese Unemployment Rate data (Actual: 3.0%, Forecast: 2.9%, Previous: 2.8%) released earlier today indicated a slight increase in unemployment during May.
Also, the Japanese Retail Sales y/y data (Actual: 8.2%, Forecast: 7.9%, Previous: 11.9% revised from 12.0%) released earlier today indicated continued increase in consumer spending albeit at a slower pace.
Currently, USD/JPY moving towards 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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