USD/JPY Outlook (06 March 2020)

Overall, USD/JPY is trending downwards. Recently, USD/JPY trended lower, breaking the support level of 106.800.
The Japanese Final GDP q/q data (Previous: -1.6%) will be released next Monday at 0750 (SGT).
USD/JPY’s next support level is at 105.000 and its next resistance level is at 106.800.
The U.S. Non-Farm Employment data will be released later at 2130 (SGT). If the released data is overall negative and the USD weakens, look for selling opportunities of USD/JPY. If the released data is overall positive and the USD strengthens, look for short-term buying opportunities of USD/JPY.