USD/JPY Outlook (3 December 2019)

Overall, USD/JPY is trending upwards. Recently, USD/JPY trended lower, breaking the support level of 109.400 after the release of the poor U.S. ISM manufacturing PMI data and after Commerce Secretary Wilbur Ross said that President Trump will carry out the tariffs on $156 billion of Chinese goods if no trade deal is made between now and 15 December.
USD/JPY’s next support level is at 108.000 and the next resistance level is at 109.400.
Look for short-term selling opportunities of USD/JPY if it breaks the key level of 109 downwards.