USD/JPY Outlook (17 March 2022)

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Overall, USD/JPY is trending upwards. Recently, USD/JPY broke the resistance zone of 118.000.

The Japanese National Core CPI y/y data (Forecast: 0.6%, Previous: 0.2%) will be released tomorrow at 0730 (GMT+8).

Currently, USD/JPY is testing to break above the key level of 119. Its next support zone is at 118.000 and the next resistance zone is at 120.000.
Look for short-term buying opportunities of USD/JPY if it breaks above the key level of 119.

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