USDJPY on Tuesday dropped -0.41% to 149.90. Pair in consolidation. Things to look out.

USDJPY Analysis

Performance after Tuesday
Tuesday-0.41%-62 Pips
Week to-date-0.11%-16 Pips
March-0.04%-6.7 Pips

Upcoming key events (London Time)

Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in January dropped to -3.6% compared to previous figure -0.3, revised from 0.2% in December Source: Census Bureau
🇯🇵 Japan Tokyo CPI (Inflation Rate) (12-mth) in February rose to 2.6% compared to previous figure 1.6% in January Source: Statistics Bureau of Japan
🇯🇵 Japan Tokyo CPI excluding fresh food and energy (12-mth) in February dropped to 3.1% compared to previous figure 3.3% (revised from 3.1%) Source: Statistics Bureau of Japan
🇯🇵 Japan Tokyo CPI excluding fresh food (12-mth) in February dropped to 1.6% compared to previous figure 1.8% (revised from 1.6%) Source: Statistics Bureau of Japan

Latest from X (Twitter)

What can we expect from USDJPY today?

USDJPY on Tuesday dropped -0.41% to 149.90. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 149.55 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 150.55 or trades above daily pivot 150.05. While to the downside, the daily low of 149.70 and 149.55 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 149.70 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:

Daily Pivot150.05

Leave a comment

Your email address will not be published. Required fields are marked *