USDJPY on Monday dropped -0.61% to 148.49. Looking bearish. What we know.

USDJPY Analysis

Performance after Monday
PeriodPctChgMomentum
Monday-0.61%-91.5 Pips
Week to-date-0.61%-91.5 Pips
November-2.07%-313.9 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD GDP Annualized

What happened lately

🇺🇸 U.S. New-Home Sales Change (1-mth) in October below forecast and dropped to -5.6% compared to previous figure 8.6, revised from 12.3% in September

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What can we expect from USDJPY today?

USDJPY on Monday dropped -0.61% to 148.49. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks bearish as the pair posted lower in Monday trading session.

Looking ahead for the day, immediate support level is at 148.09 (S1) with break below could see further selling pressure towards 147.69 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 149.68 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 148.48 would indicate selling pressure.

For the week to-date, take note that USDJPY is mixed as compared to prior week.

Key levels to watch out:

R3150.47
R2150.07
R1149.28
Daily Pivot148.88
S1148.09
S2147.69
S3146.9

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