USDJPY on Tuesday dropped -0.34% to 133.73. Looking bearish. What we know.
|Performance after Tuesday|
|Week to-date||-0.3%||-40.6 Pips|
Upcoming key events (London Time)
Wed 01:30 PM USD Durable Goods Orders
Wed 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft
Thu 01:30 PM USD GDP Annualized
What happened lately
🇺🇸 New Residential Sales (1-mth) in March exceed forecast and rose to 0.683M compared to previous figure 0.623, revised from 0.64M in February Census Bureau
🇺🇸 Housing Price Index (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.1, revised from 0.2% in January
🇺🇸 Chicago Fed National Activity Index in March unchanged at -0.19 points compared to previous report in February.
What can we expect from USDJPY today?
USDJPY on Tuesday dropped -0.34% to 133.73. Price is below 9-Day EMA while Stochastic is falling.
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 133.23 (S1) with break below could see further selling pressure towards 132.74 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 134.48 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 133.36 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:
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