USDJPY on Tuesday rose 0.32% to 143.92. How it happened.

USDJPY Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.32%	46.5 Pips
Week to-date	0.18%	26.3 Pips
June	3.32%	461.9 Pips

Upcoming key events (London Time)

Wed 02:30 PM USD Federal Reserve Chair Jerome Powell speech
Wed 02:30 PM JPY Bank of Japan Governor Kazuo Ueda speech
Wed 09:30 PM USD Bank Stress Test Results
Thu 01:30 PM USD GDP Annualized (12-mth)

What happened lately

🇺🇸 U.S. New Residential Sales (1-mth) in May exceed forecast and rose to 0.763M compared to previous figure 0.68, revised from 0.683M in April Census Bureau
🇺🇸 U.S. Housing Price Index (1-mth) in April exceed forecast and rose to 0.7% compared to previous figure 0.5, revised from 0.6% in March
🇺🇸 U.S. Durable Goods Orders excluding Transportation in May rose to 0.6% compared to previous figure -0.6% (revised from -0.2%) Census Bureau

What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.32% to 143.92. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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 144.3 with break above could target R2 at 144.69. While towards the downside, we are looking at daily low of 143.28 as an important support. Break below this level could weaken the current bullish momentum. A break above 144.18 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is bullish as the pair continued to trade higher and is up by 0.18% over the past few days.

Key levels to watch out:

You might be interested in:

Speech by Board Member ADACHI in Kagoshima on June 21, 2023 (Economic Activity, Prices, and Monetary Policy in Japan). Bank of Japan
Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Summary of Opinions at the Monetary Policy Meeting on June 15 and 16, 2023. Bank of Japan

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.