USDJPY Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.23% | -35.901 Pips |  |
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| Week to-date | -0.28% | -43.7 Pips |  |
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| July | -2.4% | -385.7 Pips | |
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Upcoming key events (London Time)
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What can we expect from USDJPY today?
USDJPY on Monday dropped -0.23% to 157.06. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for USDJPY looks bearish as the pair posted lower in Monday trading session.
Looking ahead for the day, immediate support level is at 156.36 (S1) with break below could see further selling pressure towards 155.65 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 157.61 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 156.28 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 | 159.02 |
| R2 | 158.32 |
| R1 | 157.69 |
| Daily Pivot | 156.98 |
| S1 | 156.36 |
| S2 | 155.65 |
| S3 | 155.02 |