USDJPY Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.14% | 20.3 Pips |  |
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| Week to-date | 0.11% | 17 Pips | |
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| January | 5.18% | 730 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD GDP Annualized
What happened lately
🇯🇵 Japan Merchandise Trade Balance Total in December rose to 62.1¥ compared to previous figure -780.4¥ (revised from -776.9¥) Source: Ministry of Finance Japan 🇯🇵 Japan Imports (12-mth) in December exceed forecast and improved to -6.8% compared to previous figure -11.9% in November Source: Ministry of Finance Japan 🇯🇵 Japan Exports (12-mth) in December exceed forecast and rose to 9.8% compared to previous figure -0.2% in November Source: Ministry of Finance Japan 🇯🇵 Japan Bank of Japan Short-Term Policy Interest Rate unchanged at -0.1% compared to previous rate -0.1% Source: Bank of Japan
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What can we expect from USDJPY today?
USDJPY on Tuesday rose 0.14% to 148.30. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 147.28 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 148.70 or trades above daily pivot 147.99. While to the downside, the daily low of 146.97 and 147.28 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 148.70 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 | 150.74 |
| R2 | 149.72 |
| R1 | 149.01 |
| Daily Pivot | 147.99 |
| S1 | 147.28 |
| S2 | 146.26 |
| S3 | 145.55 |
