USDJPY on Monday dropped -0.32% to 144.14. Pair in consolidation. What is going on.

USDJPY Analysis

Performance after Monday
PeriodPctChgMomentum
Monday-0.32%-46.6 Pips
Week to-date-0.32%-46.6 Pips
January2.23%313.9 Pips

Upcoming key events (London Time)

Mon 11:30 PM JPY Tokyo CPI (Inflation Rate) (12-mth)

What happened lately

No major activities.

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What can we expect from USDJPY today?

USDJPY on Monday dropped -0.32% to 144.14. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 143.59 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 144.80 or trades above daily pivot 144.2. While to the downside, the daily low of 143.66 and 143.59 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 143.66 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:

R3145.89
R2145.35
R1144.74
Daily Pivot144.2
S1143.59
S2143.05
S3142.45

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