USDJPY Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.27% | -38.3 Pips |  |
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| Week to-date | 0.91% | 129.6 Pips |  |
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| December | -3.2% | -473.9 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD GDP Annualized Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth) Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
🇺🇸 U.S. Housing Starts (1-mth) in November exceed forecast and rose to 1.56M compared to previous figure 1.359, revised from 1.372M in October Source: Census Bureau 🇺🇸 U.S. Building Permits (1-mth) in November below forecast and dropped to 1.46M compared to previous figure 1.498, revised from 1.487M in October Source: Census Bureau
🇯🇵 Japan Bank of Japan Short-Term Policy Interest Rate unchanged at -0.1% compared to previous rate -0.1% Source: Bank of Japan
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What can we expect from USDJPY today?
USDJPY on Wednesday dropped -0.27% to 143.44. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 143.1 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 144.10 or trades above daily pivot 143.6. While to the downside, the daily low of 143.26 and 143.1 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 143.26 would indicate selling pressure.
For the week to-date, take note that USDJPY is mixed as compared to prior week.
Key levels to watch out:
| R3 | 144.78 |
| R2 | 144.44 |
| R1 | 143.94 |
| Daily Pivot | 143.6 |
| S1 | 143.1 |
| S2 | 142.76 |
| S3 | 142.26 |
