USDJPY Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | 0.42% | 61.5 Pips |  |
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| Week to-date | 0.37% | 54.9 Pips |  |
||
| March | -1.6% | -239.6 Pips |  |
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Upcoming key events (London Time)
Thu 12:30 PM USD PPI excluding Food and Energy sectors (12-mth) Thu 12:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
No major activities.
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What can we expect from USDJPY today?
USDJPY on Tuesday rose 0.42% to 147.58. Price is below 9-Day EMA while Stochastic is rising in oversold 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 148.31 with break above could target R2 at 149.03. While towards the downside, we are looking at daily low of 146.61 as an important support. Break below this level could weaken the current bullish momentum. A break above 148.19 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 | 149.88 |
| R2 | 149.03 |
| R1 | 148.31 |
| Daily Pivot | 147.46 |
| S1 | 146.73 |
| S2 | 145.89 |
| S3 | 145.16 |
