USDJPY on Wednesday rose 0.76% to 149.51. What we know.

USDJPY Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.76%	112.9 Pips
Week to-date	-0.04%	-5.4 Pips
November	-1.4%	-211.9 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Michigan Index of Consumer Sentiment in November exceed forecast and rose to 61.3 points compared to previous figure 60.4 points in October University of Michigan
🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in November unchanged at 3.2% compared to previous report in October. The actual figure is also in line with the forecast University of Michigan
🇺🇸 U.S. Durable Goods Orders in October exceed forecast and dropped to -5.4% compared to previous figure 4.6, revised from 4.7% in September Census Bureau

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What can we expect from USDJPY today?

USDJPY on Wednesday rose 0.76% to 149.51. Price is below 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 150.16 with break above could target R2 at 150.82. While towards the downside, we are looking at daily low of 148.02 as an important support. Break below this level could weaken the current bullish momentum. A break above 149.75 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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Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve