USDJPY on Wednesday rose 1.35% to 132.60. What we know.

USDJPY on Wednesday rose 1.35% to 132.60. What we know.

USDJPY Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 1.35% 176.5 Pips
Week to-date 1.45% 189.8 Pips
March -2.63% -358.2 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized | Q4

What happened lately

📆 🇺🇸 USD Pending Home Sales (1-mth) | Feb in February exceed forecast and dropped to 0.8% compared to previous figure 8.1% in January. Source

USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Wednesday rose 1.35% to 132.60. Price is neutral near 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 at 133.36 (R1) while on the downside, we are looking at daily low of 130.90 as an important support. Break below this level could weaken the current bullish momentum. A break above 132.89 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 135.35
R2 134.12
R1 133.36
Daily Pivot 132.13
S1 131.37
S2 130.14
S3 129.38

You might be interested in:

U.S. International Investment Position, 4th Quarter and Year 2022 Source: Bureau of Economic Analysis
Trade Statistics (First 10 Days of March 2023 [Provisional]) Source: Ministry of Finance
Advance Retail Inventories Source: Census Bureau
Advance U.S. International Trade in Goods Source: Census Bureau
Advance Wholesale Inventories Source: Census Bureau
Quarterly Survey of Overseas Subsidiaries (Survey from October to December 2022) Source: Ministry of Economy, Trade and Industry

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