Overall, USD/JPY is trending downwards. Recently, USD/JPY bounced off the support zone of 103.400. The Japanese Flash Manufacturing PMI (Forecast: 48.9, Previous: 49.0 revised from 48.3) will be released tomorrow at 0830 ( SGT ). Currently, USD/JPY is testing to break above the key level of 104. Its next support zone is at 103.400 and the next resistance zone is at 105.600.
Look for short-term buying opportunities of USD/JPY if it breaks above the key level of 104.



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