USDJPY Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.49%	70.2 Pips
Week to-date	1.28%	181.2 Pips
August	0.49%	70.2 Pips

Upcoming key events (London Time)

Wed 01:15 PM USD ADP Non-Farm Employment Change
Thu 03:00 PM USD ISM Services PMI

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in June dropped to 9.582M compared to previous figure 9.616M (revised from 9.824M)
🇯🇵 Japan Unemployment Rate in June dropped to 2.5% compared to previous figure 2.6% in May Statistics Bureau of Japan

What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.49% to 142.95. 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 143.58 with break above could target R2 at 144.21. While towards the downside, we are looking at daily low of 142.25 as an important support. Break below this level could weaken the current bullish momentum. A break above 143.55 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is bullish as the pair continued to trade higher and is up by 1.28% over the past few days.

Key levels to watch out:

You might be interested in:

Minutes of the Monetary Policy Meeting on June 15 and 16, 2023. Bank of Japan
Gross Domestic Product for Puerto Rico, 2021. Bureau of Economic Analysis
Consumer Confidence Survey. Cabinet Office
Preliminary Report on Petroleum Statistics (June 2023). Ministry of Economy, Trade and Industry
Preliminary Report on Current Survey of Production (June 2023). Ministry of Economy, Trade and Industry
Preliminary Report on Indices of Industrial Production (June 2023). Ministry of Economy, Trade and Industry
Preliminary Report on the Current Survey of Commerce (June 2023). Ministry of Economy, Trade and Industry