USDJPY Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.83% | 120.2 Pips |  |
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| Week to-date | 0.74% | 106.9 Pips |  |
||
| January | 3.31% | 467.4 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD CPI Inflation Rate (12-mth) Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
What happened lately
🇯🇵 Japan Labor Cash Earnings (12-mth) in November below forecast and dropped to 0.2% compared to previous figure 1.5% in October
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What can we expect from USDJPY today?
USDJPY on Wednesday rose 0.83% to 145.67. 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 146.2 with break above could target R2 at 146.72. While towards the downside, we are looking at daily low of 144.41 as an important support. Break below this level could weaken the current bullish momentum. A break above 145.83 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:
| R3 | 147.62 |
| R2 | 146.72 |
| R1 | 146.2 |
| Daily Pivot | 145.31 |
| S1 | 144.78 |
| S2 | 143.89 |
| S3 | 143.36 |
