USDJPY on Wednesday dropped -0.09% to 140.07. Pair in consolidation. What you need to know.
USDJPY Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.09% | -13.2 Pips |  | ||
| Week to-date | 0.51% | 70.4 Pips |  | ||
| June | 0.55% | 76 Pips | | ||
Upcoming key events (London Time)
Thu 01:30 PM USD Monthly Retail Trade (1-mth)
Fri 04:00 AM JPY Bank of Japan Short-Term Policy Interest Rate Fri 07:00 AM JPY Bank of Japan Press Conference Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Interest Rate Projections rose to 5.6% compared to previous rate 5.1% 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.25% compared to previous rate 5.25% Federal Reserve 🇺🇸 U.S. Interest Rate Projections – Longer unchanged at 2.5% compared to previous rate 2.5% 🇺🇸 U.S. Interest Rate Projections – 1st year rose to 4.6% compared to previous rate 4.3% 🇺🇸 U.S. Interest Rate Projections – 2nd year rose to 3.4% compared to previous rate 3.1% 🇺🇸 U.S. CPI Inflation Rate (12-mth) in May below forecast and dropped to 4% compared to previous figure 4.9% in April Bureau of Labor Statistics
What can we expect from USDJPY today?
USDJPY on Wednesday dropped -0.09% to 140.07. 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 139.5 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 140.20 or trades above daily pivot 139.85. While to the downside, the daily low of 139.28 and 139.5 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 139.28 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:
| R3 | 141.34 |
| R2 | 140.77 |
| R1 | 140.42 |
| Daily Pivot | 139.85 |
| S1 | 139.5 |
| S2 | 138.93 |
| S3 | 138.57 |
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