USDJPY on Wednesday rose 0.31% to 143.20. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday0.31%44.3 Pips
Week to-date1.46%206.3 Pips
August0.67%95.3 Pips

Upcoming key events (London Time)

Thu 03:00 PM USD ISM Services PMI
Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

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


USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Wednesday rose 0.31% to 143.20. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 142.46 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 143.48 or trades above daily pivot 142.97. While to the downside, the daily low of 142.23 and 142.46 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 143.48 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 1.46% over the past few days.

Key levels to watch out:

R3144.96
R2144.22
R1143.71
Daily Pivot142.97
S1142.46
S2141.72
S3141.21

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