USDJPY Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -1.67% | -265.301 Pips |  |
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| Week to-date | -1.61% | -254.9 Pips | |
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| July | -3.2% | -514.3 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in June dropped to 0.9% compared to previous figure 1% (revised from 0.9%) 🇺🇸 U.S. Monthly Retail Trade (1-mth) in June dropped to 0% compared to previous figure 0.1% in May Source: Census Bureau
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What can we expect from USDJPY today?
USDJPY on Wednesday dropped -1.67% to 155.81. Price is below 9-Day EMA while Stochastic is falling in oversold zone.
Updated daily direction for USDJPY looks bearish as the pair posted lower in Wednesday trading session.
Looking ahead for the day, immediate support level is at 154.79 (S1) with break below could see further selling pressure towards 153.78 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 158.62 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 155.69 would indicate selling pressure.
For the week to-date, take note that USDJPY is bearish as the pair posted lower by -1.61%.
Key levels to watch out:
| R3 | 160.66 |
| R2 | 159.64 |
| R1 | 157.72 |
| Daily Pivot | 156.71 |
| S1 | 154.79 |
| S2 | 153.78 |
| S3 | 151.86 |