USDJPY on Tuesday dropped -0.26% to 134.07. Pair in consolidation. How it happened.
|Performance after Tuesday|
|Week to-date||0.18%||24.4 Pips|
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 Building Permits (1-mth) in March below forecast and dropped to 1.413M compared to previous figure 1.55, revised from 1.524M in February Census Bureau
What can we expect from USDJPY today?
USDJPY on Tuesday dropped -0.26% to 134.07. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 133.72 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 134.71 or trades above daily pivot 134.21. While to the downside, the daily low of 133.86 and 133.72 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 133.86 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:
Minutes of the Board’s discount rate meetings from February 21 through March 22, 2023. Federal Reserve
New Residential Construction. Census Bureau
Business Formation Statistics. Census Bureau
Monthly Report on the Current Survey of Commerce (February 2023). Ministry of Economy, Trade and Industry
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