USDJPY Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.2% | -29.3 Pips |  |
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| Week to-date | -1.01% | -151.1 Pips | |
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| November | -2.36% | -357.6 Pips |  |
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What can we expect from USDJPY today?
USDJPY on Tuesday dropped -0.2% to 148.05. 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 147.27 (S1) with break below could see further selling pressure towards 146.48 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 148.59 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 147.15 would indicate selling pressure.
For the week to-date, take note that USDJPY is bearish as the pair posted lower by -1.01%.
Key levels to watch out:
| R3 | 150.16 |
| R2 | 149.38 |
| R1 | 148.71 |
| Daily Pivot | 147.93 |
| S1 | 147.27 |
| S2 | 146.48 |
| S3 | 145.82 |
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Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve
