USDJPY on Tuesday rose 0.78% to 134.22. Pair in consolidation. What we know.

USDJPY by TradingView

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.78%	104 Pips
Week to-date	-0.61%	-83 Pips
March	-1.66%	-226.5 Pips

Upcoming key events (London Time)

Wed 12:30 PM USD Retail Sales (1-mth)
Wed 12:30 PM USD Retail Control Group

What happened lately

📆 ☢️ 🇺🇸 USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.4% in January. Source

What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.78% to 134.22. Price is below 9-Day EMA while Stochastic is in neutral zone.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 133.19667 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 134.91 or trades above daily pivot 134.05333. While to the downside, the daily low of 133.03 and 133.19667 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 134.91 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

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