USDJPY on Tuesday dropped -0.52% to 131.72. Looking bearish. What we know.

USDJPY Analysis

Performance after Tuesday
Tuesday-0.52%-68.2 Pips
Week to-date-0.92%-122.5 Pips
April-0.92%-122.5 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

📆 🇺🇸 USD Factory Orders (1-mth) | Feb in February exceed forecast and improved to -0.7% compared to previous figure -2.1, revised from -1.6% in January.
📆 🇺🇸 USD S&P Global Manufacturing PMI | Mar in March below forecast and dropped to 49.2 points compared to previous figure 49.3 points in February.

USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Tuesday dropped -0.52% to 131.72. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at 131.1 (S1) with break below could see further selling pressure towards 130.48 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 133.17 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 131.52 would indicate selling pressure.

For the week to-date, take note that USDJPY is mixed as compared to prior week.

Key levels to watch out:

Daily Pivot132.13

You might be interested in:

February job openings and layoffs and discharges decrease; quits edge up. Bureau of Labor Statistics Publications
Construction Spending. Census Bureau
Tankan (Mar.): Comprehensive Data Set. Bank of Japan
Tankan (Mar.): Summary and Outline. Bank of Japan

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