USDJPY on Wednesday rose 0.38% to 150.91. What we know.

USDJPY Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.38%	56.6 Pips
Week to-date	1.06%	158.1 Pips
November	-0.47%	-71.3 Pips

Upcoming key events (London Time)

Thu 07:00 PM USD Federal Reserve Chair Jerome Powell speech
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇯🇵 Japan Labor Cash Earnings (12-mth) in September exceed forecast and rose to 1.2% compared to previous figure 1.1% in August

What can we expect from USDJPY today?

USDJPY on Wednesday rose 0.38% to 150.91. Price is above 9-Day EMA while Stochastic is rising.

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 151.2 with break above could target R2 at 151.48. While towards the downside, we are looking at daily low of 150.34 as an important support. Break below this level could weaken the current bullish momentum. A break above 151.06 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:

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Balance of Payments, September 2023 (Preliminary). Ministry of Finance
Summary of Opinions at the Monetary Policy Meeting on October 30 and 31, 2023. Bank of Japan
Powell, Opening Remarks. Federal Reserve
U.S. International Trade in Goods and Services, September 2023. Bureau of Economic Analysis
Trade Statistics (First 20 Days of October 2023 [Provisional]). Ministry of Finance
U.S. International Trade in Goods and Services. Census Bureau
Speech by Governor UEDA in Nagoya (Japan’s Economy and Monetary Policy). Bank of Japan
Minutes of the Monetary Policy Meeting on September 21 and 22, 2023. Bank of Japan