USDJPY on Tuesday rose 1.23% to 150.94. What we know.

USDJPY Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	1.23%	183.6 Pips
Week to-date	1.28%	190.9 Pips
March	0.65%	97.1 Pips

Upcoming key events (London Time)

Wed 06:00 PM USD FOMC Monetary Policy Statement
Wed 06:00 PM USD FOMC Economic Projections
Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)

What happened lately

🇺🇸 U.S. Building Permits (1-mth) in February rose to 1.518M compared to previous figure 1.489, revised from 1.47M in January Source: Census Bureau
🇯🇵 Japan Bank of Japan Short-Term Policy Interest Rate rose to 0% 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 1.23% to 150.94. 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 151.61 with break above could target R2 at 152.27. While towards the downside, we are looking at daily low of 148.99 as an important support. Break below this level could weaken the current bullish momentum. A break above 150.96 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 1.28% over the past few days.

Key levels to watch out: