USDJPY on Wednesday rose 0.06% to 149.86. What we know.
|Performance after Wednesday|
|Week to-date||0.23%||34.1 Pips|
Upcoming key events (London Time)
Thu 05:00 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇺🇸 U.S. Building Permits (1-mth) in September dropped to 1.475M compared to previous figure 1.541M (revised from 1.543M) Census Bureau
🇺🇸 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
What can we expect from USDJPY today?
USDJPY on Wednesday rose 0.06% to 149.86. 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 Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 150.03 with break above could target R2 at 150.21. While towards the downside, we are looking at daily low of 149.48 as an important support. Break below this level could weaken the current bullish momentum. A break above 149.94 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 0.23% over the past few days.
Key levels to watch out:
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