USDJPY on Monday dropped -0.32% to 131.38. Looking bearish. What we know.

USDJPY by TradingView

Performance after Monday
Period	Pct	Chg	Momentum
Monday	-0.32%	-41.8 Pips
Week to-date	-0.32%	-41.8 Pips
March	-3.51%	-478.6 Pips

Upcoming key events (London Time)

Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 06:00 PM USD FOMC Monetary Policy Statement
Wed 06:30 PM USD FOMC Press Conference

What happened lately

No major activities.

What can we expect from USDJPY today?

USDJPY on Monday dropped -0.32% to 131.38. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for USDJPY looks bearish as the pair posted lower in Monday trading session.

Looking ahead for the day, immediate support level is at 130.396 (S1) with break below could see further selling pressure towards 129.407 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 132.65 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 130.53 would indicate selling pressure.

For the week to-date, take note that USDJPY is bearish as the pair posted lower by -0.32%.

Key levels to watch out:

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