USDJPY Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -1.06% | -158.1 Pips |  |
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| Week to-date | -1.55% | -231.5 Pips | |
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| November | -2.99% | -453.9 Pips |  |
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Upcoming key events (London Time)
Wed 01:30 PM USD GDP Annualized Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
🇺🇸 U.S. New-Home Sales Change (1-mth) in October below forecast and dropped to -5.6% compared to previous figure 8.6, revised from 12.3% in September
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What can we expect from USDJPY today?
USDJPY on Tuesday dropped -1.06% to 147.09. 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 146.5 (S1) with break below could see further selling pressure towards 145.91 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 148.83 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 147.08 would indicate selling pressure.
For the week to-date, take note that USDJPY is bearish as the pair posted lower by -1.55%.
Key levels to watch out:
| R3 | 150.01 |
| R2 | 149.42 |
| R1 | 148.25 |
| Daily Pivot | 147.66 |
| S1 | 146.5 |
| S2 | 145.91 |
| S3 | 144.75 |
