USDJPY on Tuesday dropped -0.75% to 140.25. Selling pressure. Why it matters.
|Performance after Tuesday|
|Week to-date||-1.29%||-182.8 Pips|
Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (1-mth)
Wed 01:30 PM USD CPI Inflation Rate excluding Food and Energy sectors (12-mth)
Thu 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)
What happened lately
No major activities.
What can we expect from USDJPY today?
USDJPY on Tuesday dropped -0.75% to 140.25. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDJPY looks bearish as the pair posted lower in Tuesday trading session.
Looking ahead for the day, immediate support level is at 139.78 (S1) with break below could see further selling pressure towards 139.3 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 141.46 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 140.14 would indicate selling pressure.
For the week to-date, take note that USDJPY is bearish as the pair posted lower by -1.29%.
Key levels to watch out:
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