USDJPY on Tuesday rose 0.17% to 156.46. What we know.

USDJPY Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.17%	26.4 Pips
Week to-date	0.41%	63.901 Pips
May	-0.8%	-126.5 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 01:30 PM USD Monthly Retail Trade (1-mth)
Thu 12:50 AM JPY GDP (3-mth)

What happened lately

🇺🇸 U.S. Producer Price Index (1-mth) in April rose to 0.5% compared to previous figure -0.1, revised from 0.2% in March

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What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.17% to 156.46. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for USDJPY looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 156.76 with break above could target R2 at 157.06. While towards the downside, we are looking at daily low of 156.21 as an important support. Break below this level could weaken the current bullish momentum. A break above 156.78 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is bullish as the pair continued to trade higher and is up by 0.41% over the past few days.

Key levels to watch out: