USDJPY on Tuesday rose 0.1% to 157.83. What we know.

USDJPY Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.1%	15.2 Pips
Week to-date	0.18%	28.899 Pips
June	0.56%	88.2 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇯🇵 Japan Imports (12-mth) in May rose to 9.5% compared to previous figure 8.3% in April Source: Ministry of Finance Japan
🇯🇵 Japan Merchandise Trade Balance Total in May rose to -462.5¥ compared to previous figure -465.6¥ (revised from -462.5¥) Source: Ministry of Finance Japan
🇯🇵 Japan Exports (12-mth) in May rose to 13.5% compared to previous figure 8.3% in April Source: Ministry of Finance Japan
🇺🇸 U.S. Industrial Production (1-mth) in May rose to 0.9% compared to previous figure 0% in April
🇺🇸 U.S. Monthly Retail Trade (1-mth) in May rose to 0.1% compared to previous figure -0.2, revised from 0% in April Source: Census Bureau
🇺🇸 U.S. New York Empire State Manufacturing Index in June improved to -6 points compared to previous figure -15.6 points in May

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What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.1% to 157.83. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 158.2 with break above could target R2 at 158.57. While towards the downside, we are looking at daily low of 157.51 as an important support. Break below this level could weaken the current bullish momentum. A break above 158.23 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is mixed as compared to prior week.

Key levels to watch out: