USDJPY Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.24% | 38.1 Pips |  |
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| Week to-date | 0.19% | 29.5 Pips | |
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| May | -0.29% | -46.2 Pips |  |
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What happened lately
🇺🇸 U.S. Housing Price Index (1-mth) in March dropped to 0.1% compared to previous figure 1.2% in February
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What can we expect from USDJPY today?
USDJPY on Tuesday rose 0.24% to 157.24. Price is above 9-Day EMA while Stochastic is falling 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 157.48 with break above could target R2 at 157.71. While towards the downside, we are looking at daily low of 156.58 as an important support. Break below this level could weaken the current bullish momentum. A break above 157.26 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 0.19% over the past few days.
Key levels to watch out:
| R3 | 158.16 |
| R2 | 157.71 |
| R1 | 157.48 |
| Daily Pivot | 157.03 |
| S1 | 156.79 |
| S2 | 156.34 |
| S3 | 156.1 |
