USDJPY Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.15% | 22.6 Pips |  |
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| Week to-date | 0.47% | 69.4 Pips | |
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| September | 2.44% | 354.8 Pips |  |
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Upcoming key events (London Time)
Thu 01:30 PM USD GDP Annualized Thu 09:00 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇺🇸 U.S. New-Home Sales Change (1-mth) in August below forecast and dropped to -8.7% compared to previous figure 4.4% in July 🇺🇸 U.S. Housing Price Index (1-mth) in July exceed forecast and rose to 0.8% compared to previous figure 0.4, revised from 0.3% in June
What can we expect from USDJPY today?
USDJPY on Tuesday rose 0.15% to 149.05. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
Updated daily direction for USDJPY looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 149.26 with break above could target R2 at 149.47. While towards the downside, we are looking at daily low of 148.70 as an important support. Break below this level could weaken the current bullish momentum. A break above 149.19 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDJPY is bullish as the pair continued to trade higher and is up by 0.47% over the past few days.
Key levels to watch out:
| R3 | 149.74 |
| R2 | 149.47 |
| R1 | 149.26 |
| Daily Pivot | 148.98 |
| S1 | 148.77 |
| S2 | 148.5 |
| S3 | 148.29 |
