USD/JPY Outlook (15 January 2020)

Overall, USD/JPY is moving across. Recently, USD/JPY’s uptrend come to a halt after failing to break the key level of 110 upwards.
Currently, USD/JPY is testing to break the key level of 110 downwards. Its next support level is at 109.600 and the next resistance level is 110.600.
With the poor U.S. CPI data released yesterday, look for short-term selling opportunities of USD/JPY if it breaks the key level of 110 downwards while noting that it is moving towards the support level of 109.600.