USDJPY Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.63% | 96.6 Pips |  |
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| Week to-date | 0.63% | 96.6 Pips | |
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| April | 1.92% | 290.3 Pips |  |
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Upcoming key events (London Time)
Tue 06:15 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇺🇸 U.S. New York Empire State Manufacturing Index in April improved to -14.3 points compared to previous figure -20.9 points in March 🇺🇸 U.S. Monthly Retail Trade (1-mth) in March dropped to 0.7% compared to previous figure 0.9, revised from 0.6% in February Source: Census Bureau
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What can we expect from USDJPY today?
USDJPY on Monday rose 0.63% to 154.21. 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 Monday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 154.68 with break above could target R2 at 155.15. While towards the downside, we are looking at daily low of 153.27 as an important support. Break below this level could weaken the current bullish momentum. A break above 154.44 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 0.63% over the past few days.
Key levels to watch out:
| R3 | 155.85 |
| R2 | 155.15 |
| R1 | 154.68 |
| Daily Pivot | 153.97 |
| S1 | 153.5 |
| S2 | 152.8 |
| S3 | 152.32 |