USDJPY on Tuesday dropped -0.57% to 147.82. Bulls rattled. Things to look out.

USDJPY Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday-0.57%-84.6 Pips
Week to-date-0.33%-48.7 Pips
February0.63%93.2 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇯🇵 Japan Labor Cash Earnings (12-mth) in December rose to 1% compared to previous figure 0.7% (revised from 0.2%)

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What can we expect from USDJPY today?

USDJPY on Tuesday dropped -0.57% to 147.82. Price is above 9-Day EMA while Stochastic is rising.

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

Looking ahead for the day, immediate support level is at 147.44 (S1) with break below could see further selling pressure towards 147.06 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 148.79 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 147.73 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:

R3149.55
R2149.17
R1148.5
Daily Pivot148.11
S1147.44
S2147.06
S3146.39

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