USD/JPY Outlook (03 March 2020)

Overall, USD/JPY is trending downwards. Recently, USD/JPY tested but failed to break the resistance level of 108.500 twice.
G7 meetings will be held today to discuss on the measures to deal with the economic impact of the coronavirus outbreak.
Currently, USD/JPY is testing to break below the key level of 108. Its next support level is at 106.800 and its next resistance level is at 108.500.
Look for selling opportunities of USD/JPY if it breaks below the key level of 108.