USDJPY Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.91% | -138.4 Pips |  |
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| Week to-date | -0.75% | -113.7 Pips |  |
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| November | -0.85% | -129.2 Pips | |
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Upcoming key events (London Time)
Tue 11:50 PM JPY GDP (3-mth)
Wed 01:30 PM USD PPI excluding Food and Energy sectors (12-mth) Wed 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in October below forecast and dropped to 0.2% compared to previous figure 0.3% in September Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate (12-mth) in October below forecast and dropped to 3.2% compared to previous figure 3.7% in September Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate (1-mth) in October below forecast and dropped to 0% compared to previous figure 0.4% in September Bureau of Labor Statistics 🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in October below forecast and dropped to 4% compared to previous figure 4.1% in September Bureau of Labor Statistics
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What can we expect from USDJPY today?
USDJPY on Tuesday dropped -0.91% to 150.34. Price is below 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDJPY looks bearish as the pair posted lower in Tuesday trading session.
Looking ahead for the day, immediate support level is at 149.73 (S1) with break below could see further selling pressure towards 149.13 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 151.78 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 150.15 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 | 152.99 |
| R2 | 152.39 |
| R1 | 151.36 |
| Daily Pivot | 150.76 |
| S1 | 149.73 |
| S2 | 149.13 |
| S3 | 148.1 |
You might be interested in:
Quarterly GDP bulletin. Cabinet Office
Business Formation Statistics. Census Bureau (BOJ Review) Developments in Corporate Bond Spreads at Issuance. Bank of Japan
