USDJPY on Wednesday rose 0.29% to 140.03. What we know.

USDJPY Analysis

Performance after Wednesday
Wednesday0.29%40.8 Pips
Week to-date-0.14%-19.7 Pips
June0.63%88.3 Pips

Upcoming key events (London Time)

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

What happened lately

🇺🇸 U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$)
🇯🇵 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

USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Wednesday rose 0.29% to 140.03. Price is above 9-Day EMA while Stochastic is falling.

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

Looking ahead for the day, immediate upside resistance level is R1 at 140.51 with break above could target R2 at 140.99. While towards the downside, we are looking at daily low of 139.02 as an important support. Break below this level could weaken the current bullish momentum. A break above 140.25 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 Pivot139.77

You might be interested in:

Quarterly GDP bulletin. Cabinet Office
U.S. International Trade in Goods and Services. Census Bureau
Quarterly Financial Report. Census Bureau
Quarterly Financial Report – Retail. Census Bureau
Trade Statistics (First 20 Days of May 2023 [Provisional]). Ministry of Finance
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau

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