USDJPY on Wednesday rose 0.31% to 157.63. What we know.

USDJPY Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.31%	49.1 Pips
Week to-date	0.44%	68.4 Pips
May	-0.05%	-7.3 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized
Fri 12:30 AM JPY Tokyo CPI (Inflation Rate) (12-mth)
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 Price Index (1-mth) in March dropped to 0.1% compared to previous figure 1.2% in February

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What can we expect from USDJPY today?

USDJPY on Wednesday rose 0.31% to 157.63. 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 Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 157.93 with break above could target R2 at 158.22. While towards the downside, we are looking at daily low of 156.89 as an important support. Break below this level could weaken the current bullish momentum. A break above 157.71 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 0.44% over the past few days.

Key levels to watch out: