USDJPY on Tuesday dropped -0.37% to 131.05. Pair in consolidation. What we know.

USDJPY on Tuesday dropped -0.37% to 131.05. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.37% -48.2 Pips
Week to-date 0.27% 35.1 Pips
March -3.78% -514.6 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized | Q4

What happened lately

No major activities.

USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Tuesday dropped -0.37% to 131.05. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 130.52 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 131.30 or trades above daily pivot 130.91. While to the downside, the daily low of 130.38 and 130.52 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 130.38 would indicate selling pressure.

For the week to-date, take note that USDJPY is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 132.36
R2 131.83
R1 131.44
Daily Pivot 130.91
S1 130.52
S2 129.99
S3 129.61

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