USDJPY on Wednesday dropped -0.22% to 150.45. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.22%	-33.3 Pips
Week to-date	0.8%	119 Pips
February	2.42%	355.7 Pips

Upcoming key events (London Time)

Wed 11:50 PM JPY GDP (3-mth)
Thu 01:30 PM USD Monthly Retail Trade (1-mth)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate (1-mth) in January rose to 0.3% compared to previous figure 0.2, revised from 0.3% in December Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in January dropped to 3.1% compared to previous figure 3.4% in December Source: Bureau of Labor Statistics

Latest from X (Twitter)

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What can we expect from USDJPY today?

USDJPY on Wednesday dropped -0.22% to 150.45. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 150.26 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 150.78 or trades above daily pivot 150.52. While to the downside, the daily low of 150.34 and 150.26 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 150.34 would indicate selling pressure.

For the week to-date, take note that USDJPY is bullish as the pair continued to trade higher and is up by 0.8% over the past few days.

Key levels to watch out: