USDJPY on Wednesday dropped -0.8% to 131.37. Pair in consolidation. What we know.

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USDJPY Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -0.8% -106.4 Pips
Week to-date -0.33% -43.7 Pips
March -3.53% -480.6 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Durable Goods Orders
Fri 12:30 PM USD Nondefense Capital Goods excluding Aircraft

What happened lately

📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision (Federal Funds Rate) rose to 5% compared to previous rate 4.75%. Source

USDJPY Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Wednesday dropped -0.8% to 131.37. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 130.56 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 133.00 or trades above daily pivot 131.78. While to the downside, the daily low of 130.97 and 130.56 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 130.97 would indicate selling pressure.

For the week to-date, take note that USDJPY is bearish as the pair posted lower by -0.33%.

Key levels to watch out:

R3 134.62
R2 133.81
R1 132.59
Daily Pivot 131.78
S1 130.56
S2 129.75
S3 128.53

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