USDJPY on Wednesday rose 0.52% to 146.29. What we know.
USDJPY Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.52% | 75.1 Pips |  | ||
| Week to-date | 0.94% | 136.4 Pips | | ||
| August | 2.84% | 404.4 Pips |  | ||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in July rose to 1% compared to previous figure -0.8% (revised from -0.5%) 🇺🇸 U.S. Monthly Retail Trade (1-mth) in July exceed forecast and rose to 0.7% compared to previous figure 0.2% in June Census Bureau 🇺🇸 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
What can we expect from USDJPY today?
USDJPY on Wednesday rose 0.52% to 146.29. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDJPY looks bullish as the pair ended higher after Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 146.7 with break above could target R2 at 147.11. While towards the downside, we are looking at daily low of 145.30 as an important support. Break below this level could weaken the current bullish momentum. A break above 146.41 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 0.94% over the past few days.
Key levels to watch out:
| R3 | 147.81 |
| R2 | 147.11 |
| R1 | 146.7 |
| Daily Pivot | 146 |
| S1 | 145.59 |
| S2 | 144.9 |
| S3 | 144.49 |
You might be interested in:
Machinery Orders. Cabinet Office Trade Statistics (July 2023 [Provisional]). Ministry of Finance
Minutes of the Federal Open Market Committee, July 25-26, 2023. Federal Reserve New Residential Construction. Census Bureau Manufacturing and Trade Inventories and Sales. Census Bureau The Time Series Data on Current Production Statistics. Ministry of Economy, Trade and Industry 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
