USDJPY on Wednesday rose 0.22% to 149.00. Pair in consolidation. Winners and losers.
|Performance after Wednesday|
|Week to-date||-0.18%||-27.5 Pips|
Upcoming key events (London Time)
Thu 01:30 PM USD CPI Inflation Rate (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Producer Price Index excluding Food and Energy sectors (12-mth) in September rose to 2.7% compared to previous figure 2.5% (revised from 2.2%)
What can we expect from USDJPY today?
USDJPY on Wednesday rose 0.22% to 149.00. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 148.5 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 149.32 or trades above daily pivot 148.91. While to the downside, the daily low of 148.42 and 148.5 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 149.32 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDJPY is mixed as compared to prior week.
Key levels to watch out:
You might be interested in:
Machinery Orders. Cabinet Office
Minutes of the Federal Open Market Committee, September 19-20, 2023. Federal Reserve
Monthly Wholesale Trade: Sales and Inventories. Census Bureau
Balance of Payments, August 2023 (Preliminary). Ministry of Finance