2020-08-03 17:15
Market analysisUSD/JPY Outlook (03 August 2020)
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Market analysis：
Overall, USD/JPY is trending downwards. Recently, USD/JPY trended into the resistance zone of 106.200.
The Japanese Preliminary GDP q/q data (Actual: -0.6%, Forecast: NA, Previous: -0.6% revised from -0.9%) released earlier today indicated negative economic growth in Japan during the second quarter of 2020.
Currently, USD/JPY is testing the resistance zone of 106.200 and the next support zone is at 104.400.
Look for buying opportunities of USD/JPY if it breaks the resistance zone of 106.200.
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USD/JPY Outlook (03 August 2020)
Singapore | 2020-08-03 17:15Overall, USD/JPY is trending downwards. Recently, USD/JPY trended into the resistance zone of 106.200.
The Japanese Preliminary GDP q/q data (Actual: -0.6%, Forecast: NA, Previous: -0.6% revised from -0.9%) released earlier today indicated negative economic growth in Japan during the second quarter of 2020.
Currently, USD/JPY is testing the resistance zone of 106.200 and the next support zone is at 104.400.
Look for buying opportunities of USD/JPY if it breaks the resistance zone of 106.200.
Forex
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