USDJPY Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.51% | -74.4 Pips |  |
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| Week to-date | 0.35% | 50.6 Pips |  |
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| December | -1.87% | -277.7 Pips | |
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Upcoming key events (London Time)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate) Thu 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
🇯🇵 Japan Tankan Large Manufacturing Index in Q4 exceed forecast and rose to 12 points compared to previous figure 9 points in Q3 Source: Bank of Japan 🇯🇵 Japan Tankan Large Manufacturing Outlook in Q4 below forecast and dropped to 8 points compared to previous figure 10 points in Q3 🇯🇵 Japan Tankan Large All Industry Capex in Q4 exceed forecast and dropped to 13.5% compared to previous figure 13.6% in Q3 🇺🇸 U.S. CPI Inflation Rate (12-mth) in November dropped to 3.1% compared to previous figure 3.2% in October Source: Bureau of Labor Statistics
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What can we expect from USDJPY today?
USDJPY on Tuesday dropped -0.51% to 145.40. 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 144.71 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 146.13 or trades above daily pivot 145.42. While to the downside, the daily low of 144.73 and 144.71 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 144.73 would indicate selling pressure.
For the week to-date, take note that USDJPY is mixed as compared to prior week.
Key levels to watch out:
| R3 | 147.51 |
| R2 | 146.82 |
| R1 | 146.11 |
| Daily Pivot | 145.42 |
| S1 | 144.71 |
| S2 | 144.02 |
| S3 | 143.31 |
