Forex

USDJPY on Tuesday dropped -0.04% to 147.15. Pair in consolidation. What we know.

USDJPY on Tuesday dropped -0.04% to 147.15. Pair in consolidation. What we know.
USDJPY on Tuesday dropped -0.04% to 147.15.  Pair in consolidation. What we know.

USDJPY Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.04% -5.7 Pips
Week to-date 0.26% 37.5 Pips
December -0.69% -102.9 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

?? U.S. Job Openings and Labor Turnover Survey (JOLTS) in October below forecast and dropped to 8.733M compared to previous figure 9.35, revised from 9.553M in September Source: Bureau of Labor Statistics
?? Japan Tokyo CPI excluding fresh food and energy (12-mth) in November below forecast and dropped to 3.6% compared to previous figure 3.8% in October Source: Statistics Bureau of Japan
?? Japan Tokyo CPI excluding fresh food (12-mth) in November below forecast and dropped to 2.3% compared to previous figure 2.7% in October Source: Statistics Bureau of Japan
?? Japan Tokyo CPI (Inflation Rate) (12-mth) in November below forecast and dropped to 2.6% compared to previous figure 3.3% in October Source: Statistics Bureau of Japan
?? U.S. Factory Orders (1-mth) in October exceed forecast and dropped to -3.6% compared to previous figure 2.3, revised from 2.8% in September Source: Census Bureau

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What can we expect from USDJPY today?

USDJPY on Tuesday dropped -0.04% to 147.15. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 146.67 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 147.39 or trades above daily pivot 147.03. While to the downside, the daily low of 146.56 and 146.67 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 146.56 would indicate selling pressure.

For the week to-date, take note that USDJPY is mixed as compared to prior week.

Key levels to watch out:

R3 148.34
R2 147.86
R1 147.51
Daily Pivot 147.03
S1 146.67
S2 146.2
S3 145.84

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