USD/JPY Outlook (17 May 2021)

Overall, USD/JPY is trending upwards.

The Japanese Preliminary GDP q/q data (Forecast: -1.2%, Previous: 2.8% revised from 3.0%) will be released tomorrow at 0750 (SGT).

USD/JPY’s next support zone is at 108.500 and the next resistance zone is at 110.800.
Look for buying opportunities of USD/JPY.