USDJPY on Monday rose 0.6% to 138.62. What we know.

USDJPY Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.6%	83.3 Pips
Week to-date	0.54%	74.2 Pips
May	1.75%	238 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

No major activities.

What can we expect from USDJPY today?

USDJPY on Monday rose 0.6% to 138.62. 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 139.04 with break above could target R2 at 139.46. While towards the downside, we are looking at daily low of 137.49 as an important support. Break below this level could weaken the current bullish momentum. A break above 138.69 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is mixed as compared to prior week.

Key levels to watch out:

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