USDJPY Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.17%	25.6 Pips
Week to-date	0.18%	26.7 Pips
October	0.3%	45.2 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Monthly Retail Trade (1-mth) in September exceed forecast and dropped to 0.7% compared to previous figure 0.8, revised from 0.6% in August Census Bureau
🇺🇸 U.S. New York Empire State Manufacturing Index in October below forecast and dropped to -4.6 points compared to previous figure 1.9 points in September

What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.17% to 149.78. 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 150.18 with break above could target R2 at 150.57. While towards the downside, we are looking at daily low of 148.74 as an important support. Break below this level could weaken the current bullish momentum. A break above 149.85 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:

Minutes of the Board’s discount rate meetings from August 21 and September 20, 2023. Federal Reserve
Advance Monthly Sales for Retail and Food Services. Census Bureau
Business Formation Statistics. Census Bureau
Report on Indices of Tertiary Industry Activity (August 2023). Ministry of Economy, Trade and Industry
The Time Series Data on Current Production Statistics. Ministry of Economy, Trade and Industry
Monthly Report of Current Production Statistics (August 2023). Ministry of Economy, Trade and Industry
Revised Report on Indices of Industrial Production (August 2023). Ministry of Economy, Trade and Industry
Monthly Report on the Current Survey of Commerce (August 2023). Ministry of Economy, Trade and Industry