USDJPY on Wednesday rose 0.22% to 150.34. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.22%	33.6 Pips
Week to-date	0.11%	15.8 Pips
February	2.35%	345 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇯🇵 Japan Imports (12-mth) in January dropped to -9.6% compared to previous figure -6.9% (revised from -6.8%) Source: Ministry of Finance Japan
🇯🇵 Japan Exports (12-mth) in January rose to 11.9% compared to previous figure 9.7% (revised from 9.8%) Source: Ministry of Finance Japan
🇯🇵 Japan Merchandise Trade Balance Total in January dropped to -1758.3¥ compared to previous figure 68.9¥ (revised from 62.1¥) Source: Ministry of Finance Japan

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What can we expect from USDJPY today?

USDJPY on Wednesday rose 0.22% to 150.34. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 149.99 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 150.39 or trades above daily pivot 150.19. While to the downside, the daily low of 149.85 and 149.99 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 150.39 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: