USD/JPY Outlook (31 January 2022)

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Overall, USD/JPY is ranging across.

The Japanese Retail Sales y/y data (Actual: 1.4%, Forecast: 2.9%, Previous: 1.9%) released earlier today indicated a slowdown in consumer spending.

The Japanese Unemployment Rate data (Forecast: TBA, Previous: 2.8%) will be released tomorrow at 0730 (GMT+8).

USD/JPY’s next support zone is at 114.200 and the next resistance zone is at 116.000.
Look for short-term buying opportunities of USD/JPY.

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