USDJPY on Tuesday rose 0.08% to 139.60. What we know.

USDJPY Analysis

Performance after Tuesday
Tuesday0.08%11.5 Pips
Week to-date-0.25%-34.7 Pips
June0.22%30.1 Pips

Upcoming key events (London Time)

Thu 12:50 AM JPY GDP (3-mth)

What happened lately

🇯🇵 Overall Household Spending (12-mth) in April exceed forecast and dropped to -4.4% compared to previous figure -1.9% in March Statistics Bureau of Japan
🇺🇸 Factory Orders (1-mth) in April exceed forecast and rose to 4% compared to previous figure 0.9% in March Census Bureau

USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.08% to 139.60. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 140.03 with break above could target R2 at 140.46. While towards the downside, we are looking at daily low of 139.09 as an important support. Break below this level could weaken the current bullish momentum. A break above 139.99 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 Pivot139.56

You might be interested in:

Trade Statistics (First 20 Days of May 2023 [Provisional]). Ministry of Finance
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau

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