USDJPY on Monday dropped -0.02% to 134.40. Pair in consolidation. What we know.
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Period Pct Chg Momentum
Monday -0.02% -2.1 Pips
Week 2022-06-14 -0.32% -43 Pips
June 3.28% 426.7 Pips

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What happened lately

USD Monthly Budget Statement in May dropped to -66$ compared to previous figure 308$. Source

What can we expect from USDJPY today?

USDJPY on Monday dropped -0.02% to 134.40. Price is above 9-Day EMA while Stochastic is falling but in overbought zone.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 133.57 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 135.20 or trades above daily pivot 134.39. and daily low of 133.56 and 133.57 (S1) as key support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 133.56 would indicate selling pressure.

For the week to-date, take note that USDJPY is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 136.85
R2 136.02
R1 135.21
Daily Pivot 134.39
S1 133.57
S2 132.75
S3 131.94

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