USDJPY Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.09% | -13.9 Pips |  |
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| Week to-date | -0.04% | -6.7 Pips | |
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| March | 0.93% | 139.1 Pips |  |
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Upcoming key events (London Time)
Thu 12:30 PM USD GDP Annualized
Thu 11:30 PM JPY Tokyo CPI (Inflation Rate) (12-mth) Fri 12:30 PM USD Personal Consumption Expenditures Price Index (1-mth) Fri 12:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
🇺🇸 U.S. Housing Price Index (1-mth) in January dropped to -0.1% compared to previous figure 0.1% in December 🇺🇸 U.S. Durable Goods Orders in February rose to -6.1% compared to previous figure -6.9% (revised from -6.1%) Source: Census Bureau
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What can we expect from USDJPY today?
USDJPY on Wednesday dropped -0.09% to 151.36. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 150.93 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 151.97 or trades above daily pivot 151.45. While to the downside, the daily low of 151.02 and 150.93 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 151.02 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 | 152.83 |
| R2 | 152.4 |
| R1 | 151.88 |
| Daily Pivot | 151.45 |
| S1 | 150.93 |
| S2 | 150.5 |
| S3 | 149.98 |