USDJPY on Wednesday rose 0.05% to 148.01. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Wednesday
Wednesday0.05%7.6 Pips
Week to-date-0.2%-29.8 Pips
February0.76%112.1 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇯🇵 Japan Current Account non seasonal adjustment in December dropped to 744.3¥ compared to previous figure 1925.6¥ in November
🇯🇵 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 Wednesday rose 0.05% to 148.01. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 147.67 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 148.26 or trades above daily pivot 147.96. While to the downside, the daily low of 147.62 and 147.67 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 148.26 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:

Daily Pivot147.96

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