USDJPY Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | 0.32% | 49.2 Pips |  |
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| Week to-date | 0.32% | 49.2 Pips | |
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| May | -0.95% | -150.5 Pips |  |
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Upcoming key events (London Time)
Tue 01:30 PM USD PPI excluding Food and Energy sectors (12-mth) Tue 03:00 PM USD Federal Reserve Chair Jerome Powell speech Wed 01:30 PM USD CPI Inflation Rate (12-mth) Wed 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
No major activities.
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What can we expect from USDJPY today?
USDJPY on Monday rose 0.32% to 156.19. 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 Monday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 156.47 with break above could target R2 at 156.74. While towards the downside, we are looking at daily low of 155.49 as an important support. Break below this level could weaken the current bullish momentum. A break above 156.25 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 0.32% over the past few days.
Key levels to watch out:
| R3 | 157.22 |
| R2 | 156.74 |
| R1 | 156.47 |
| Daily Pivot | 155.98 |
| S1 | 155.71 |
| S2 | 155.22 |
| S3 | 154.95 |
