USDJPY on Tuesday rose 0.07% to 145.63. What we know.

USDJPY Analysis

Performance after Tuesday
Tuesday0.07%9.8 Pips
Week to-date0.48%70.2 Pips
August2.38%338.2 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

🇺🇸 U.S. Retail Trade Control Group in July rose to 1% compared to previous figure 0.5% (revised from 0.6%) Census Bureau
🇯🇵 Japan GDP Deflator (12-mth) in Q2 preliminary estimate exceed forecast and rose to 3.4% compared to previous figure 2% in Q1

USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.07% to 145.63. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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 145.96 with break above could target R2 at 146.3. While towards the downside, we are looking at daily low of 145.10 as an important support. Break below this level could weaken the current bullish momentum. A break above 145.87 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 0.48% over the past few days.

Key levels to watch out:

Daily Pivot145.53

You might be interested in:

Advanced Monthly Sales for Retail and Food Services. Census Bureau
Monthly Report of Current Production Statistics (June 2023). Ministry of Economy, Trade and Industry
Revised Report on Indices of Industrial Production (June 2023). Ministry of Economy, Trade and Industry
Monthly Report on the Current Survey of Commerce (June 2023). Ministry of Economy, Trade and Industry
Quarterly GDP bulletin. Cabinet Office

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