USDJPY on Tuesday rose 0.14% to 135.24. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Tuesday
Tuesday0.14%18.3 Pips
Week to-date0.31%41.8 Pips
May-0.74%-100.3 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (1-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (12-mth)

What happened lately

🇯🇵 Overall Household Spending (12-mth) in March below forecast and dropped to -1.9% compared to previous figure 1.6% in February Statistics Bureau of Japan

USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.14% to 135.24. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 134.85 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 135.36 or trades above daily pivot 135.1. While to the downside, the daily low of 134.71 and 134.85 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 135.36 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is mixed as compared to prior week.

Key levels to watch out:

Daily Pivot135.1

You might be interested in:

Trade Statistics (First 20 Days of April 2023 [Provisional]). Ministry of Finance
Monthly Wholesale Trade: Sales and Inventories. Census Bureau
Minutes of the Monetary Policy Meeting on March 9 and 10, 2023. Bank of Japan

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