USDJPY on Wednesday rose 0.09% to 150.62. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.09%	13.3 Pips
Week to-date	0.1%	14.7 Pips
February	2.54%	372.8 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)

What happened lately

🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December Source: Census Bureau
🇯🇵 Japan National CPI Inflation Rate (12-mth) in January dropped to 2.2% compared to previous figure 2.6% in December Source: Statistics Bureau of Japan
🇯🇵 Japan National CPI Inflation Rate excluding Fresh Food (12-mth) in January dropped to 2% compared to previous figure 2.3% in December Source: Statistics Bureau of Japan
🇯🇵 Japan National CPI Inflation Rate excluding Food and Energy (12-mth) in January dropped to 3.5% compared to previous figure 3.7% in December Source: Statistics Bureau of Japan

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What can we expect from USDJPY today?

USDJPY on Wednesday rose 0.09% to 150.62. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 150.38 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 150.84 or trades above daily pivot 150.61. While to the downside, the daily low of 150.37 and 150.38 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 150.84 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: