USD/JPY Outlook (04 March 2020)

Overall, USD/JPY is trending downwards. Recently, USD/JPY trended lower and bounced off the support level of 106.800 after the U.S. Federal Open Market Committee announced an emergency interest rate cut of 0.50%, causing a weakness in USD.
USD/JPY’s next support level is at 106.800 and its next resistance level is at 108.500.
Look for selling opportunities of USD/JPY.