USDJPY Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.01% | 2.3 Pips |  |
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| Week to-date | 0.39% | 61.2 Pips | |
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| May | -0.93% | -146.9 Pips |  |
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Upcoming key events (London Time)
Wed 07:00 PM USD FOMC Meeting Minutes
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What can we expect from USDJPY today?
USDJPY on Tuesday rose 0.01% to 156.23. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 155.86 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 156.54 or trades above daily pivot 156.2. While to the downside, the daily low of 155.84 and 155.86 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 156.54 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:
| R3 | 157.28 |
| R2 | 156.91 |
| R1 | 156.57 |
| Daily Pivot | 156.2 |
| S1 | 155.86 |
| S2 | 155.5 |
| S3 | 155.16 |
