USDJPY on Wednesday dropped -1.46% to 134.53. Looking bearish. What we know.
|Performance after Wednesday|
|Week to-date||-1.26%||-171.7 Pips|
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve
🇺🇸 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 Wednesday dropped -1.46% to 134.53. Price is below 9-Day EMA while Stochastic is falling in overbought zone.
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 133.75 (S1) with break below could see further selling pressure towards 132.97 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 136.57 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 134.38 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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