USDJPY on Tuesday dropped -0.62% to 143.80. Looking bearish. What we know.

USDJPY Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.62%	-89.7 Pips
Week to-date	-0.13%	-18.6 Pips
August	-3.96%	-593 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP annual rate

What happened lately

🇺🇸 U.S. House Price Index (1-mth) in June dropped to -0.1% from 0% in May. Source: FHFA
🇺🇸 U.S. Durable Goods Orders excluding Transportation in July dropped to -0.2% from the revised June figure of 0.4%, which was initially reported as 0.5%. Source: Census Bureau
U.S. Durable Goods Orders excluding Defense in July increased to 10.4%, compared to the revised figure of -7.2% (previously -7%) in June. Source: Census Bureau
🇺🇸 U.S. Nondefense Capital Goods Orders excluding Aircraft in July dropped to -0.1% from a revised 0.9% in June. Source: Census Bureau
🇺🇸 U.S. Durable Goods – New Orders in July rose to 9.9%, compared to the previous figure of -6.7%, revised from -6.6% in June. Source: Census Bureau

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What can we expect from USDJPY today?

USDJPY on Tuesday dropped -0.62% to 143.80. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDJPY looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at 143.26 (S1) with break below could see further selling pressure towards 142.72 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 145.18 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 143.68 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: