USDJPY on Wednesday dropped -0.63% to 130.89. Looking bearish. What we know.
|Performance after Wednesday|
|Week to-date||-1.44%||-190.7 Pips|
Upcoming key events (London Time)
Fri 06:00 AM USD Good Friday
Fri 01:30 PM USD Nonfarm Payroll Employment | Mar
What happened lately
📆 🇺🇸 USD S&P Global Composite PMI | Mar in March below forecast and dropped to 52.3 points compared to previous figure 53.3 points in February.
📆 🇺🇸 USD Goods and Services Trade Balance | Feb in February exceed forecast and dropped to -70.5$ compared to previous figure -68.7, revised from -68.3$ in January.
📆 🇺🇸 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.
What can we expect from USDJPY today?
USDJPY on Wednesday dropped -0.63% to 130.89. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for USDJPY looks bearish as the pair posted lower in Wednesday trading session.
Looking ahead for the day, immediate support level is at 130.39 (S1) with break below could see further selling pressure towards 129.88 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 131.84 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 130.61 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:
You might be interested in:
U.S. International Trade in Goods and Services. Census Bureau
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
February job openings and layoffs and discharges decrease; quits edge up. Bureau of Labor Statistics Publications
Tankan (Mar.): Comprehensive Data Set. Bank of Japan
Construction Spending. Census Bureau
Tankan (Mar.): Summary and Outline. Bank of Japan
#USDJPY Trending on Twitter
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