USDJPY on Wednesday dropped -0.95% to 143.63. Looking bearish. What we know.

USDJPY Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.95%	-138.4 Pips
Week to-date	-0.25%	-36.6 Pips
September	-0.87%	-125.6 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇯🇵 Japan Total Labor Cash Earnings (12-mth) in July dropped to 3.6% from the previous figure of 4.5% in June. Source: MHLW
🇺🇸 U.S. Factory Orders (1-mth) in July rose to 5%, compared to the previous figure of -3.3% in June. Source: Census Bureau
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in July dropped to 7.673M compared to the revised June figure of 7.91M, down from 8.184M. Source: Bureau of Labor Statistics
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in July dropped to 7.673M, compared to the previous figure of 7.91M revised from 8.184M in June. Source: Bureau of Labor Statistics

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What can we expect from USDJPY today?

USDJPY on Wednesday dropped -0.95% to 143.63. Price is below 9-Day EMA while Stochastic is falling.

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 142.91 (S1) with break below could see further selling pressure towards 142.18 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 145.55 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 143.50 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: