USDJPY on Wednesday dropped -0.22% to 133.44. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday-0.22%-29.3 Pips
Week to-date-0.49%-65.2 Pips
April0.49%64.7 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized
Fri 04:00 AM JPY Bank of Japan Short-Term Policy Interest Rate
Fri 04:00 AM JPY Bank of Japan Monetary Policy Statement
Fri 07:00 AM JPY Bank of Japan Press Conference

What happened lately

USD Durable Goods Orders excluding Transportation in March rose to 0.3% compared to previous figure -0.3% (revised from 0%). Census Bureau
🇺🇸 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


USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Wednesday dropped -0.22% to 133.44. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 132.98 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 133.94 or trades above daily pivot 133.46. While to the downside, the daily low of 133.00 and 132.98 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 133.00 would indicate selling pressure.

For the week to-date, take note that USDJPY is bearish as the pair posted lower by -0.49%.

Key levels to watch out:

R3134.86
R2134.4
R1133.92
Daily Pivot133.46
S1132.98
S2132.52
S3132.04

You might be interested in:

Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Advance Retail Inventories. Census Bureau
Advance U.S. International Trade in Goods. Census Bureau
Advance Wholesale Inventories. Census Bureau
New Home Sales. Census Bureau

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