USDJPY on Tuesday dropped -0.77% to 136.41. Pair in consolidation. What we know.
|Performance after Tuesday|
|Week to-date||0.12%||16.6 Pips|
Upcoming key events (London Time)
Wed 01:15 PM USD ADP Non-Farm Employment Change
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 07:00 PM USD FOMC Monetary Policy Statement
Wed 07:30 PM USD FOMC Press Conference
What happened lately
🇺🇸 Factory Orders (1-mth) in March exceed forecast and rose to 0.9% compared to previous figure -1.1, revised from -0.7% in February Census Bureau
What can we expect from USDJPY today?
USDJPY on Tuesday dropped -0.77% to 136.41. 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 135.88 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 137.77 or trades above daily pivot 136.83. While to the downside, the daily low of 136.30 and 135.88 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 136.30 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:
Construction Spending. Census Bureau
Consumer Confidence Survey. Cabinet Office
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