USDJPY Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.22% | 31.3 Pips |  |
||
| Week to-date | -0.1% | -14.2 Pips |  |
||
| June | 1.71% | 238.4 Pips | |
||
Upcoming key events (London Time)
Thu 03:00 PM USD Federal Reserve Chair Jerome Powell testifies
What happened lately
🇺🇸 U.S. Building Permits (1-mth) in May exceed forecast and rose to 1.491M compared to previous figure 1.417, revised from 1.416M in April Census Bureau
🇯🇵 Japan Industrial Production (12-mth) in April exceed forecast and dropped to -0.7% compared to previous figure -0.3% in March METI
What can we expect from USDJPY today?
USDJPY on Wednesday rose 0.22% to 141.69. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 141.18 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 142.37 or trades above daily pivot 141.78. While to the downside, the daily low of 141.27 and 141.18 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 142.37 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:
| R3 | 143.38 |
| R2 | 142.87 |
| R1 | 142.28 |
| Daily Pivot | 141.78 |
| S1 | 141.18 |
| S2 | 140.68 |
| S3 | 140.08 |
You might be interested in:
Powell, Semiannual Monetary Policy Report to the Congress. Federal Reserve Business Formation Statistics. Census Bureau
The Time Series Data on Current Production Statistics. Ministry of Economy, Trade and Industry Minutes of the Monetary Policy Meeting on April 27 and 28, 2023. Bank of Japan New Residential Construction. Census Bureau Monthly Report of Current Production Statistics (April 2023). Ministry of Economy, Trade and Industry Revised Report on Indices of Industrial Production (April 2023). Ministry of Economy, Trade and Industry
Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.
