USDJPY on Wednesday rose 0.11% to 147.66. What we know.

USDJPY Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday0.11%16 Pips
Week to-date0.61%88.8 Pips
March-1.62%-243.3 Pips

Upcoming key events (London Time)

Thu 12:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Thu 12:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. Monthly Budget Statement in February dropped to -296$ compared to previous figure -22$ in January Source: Bureau of the Fiscal Service

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What can we expect from USDJPY today?

USDJPY on Wednesday rose 0.11% to 147.66. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 148.06 with break above could target R2 at 148.46. While towards the downside, we are looking at daily low of 147.23 as an important support. Break below this level could weaken the current bullish momentum. A break above 148.05 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:

R3148.88
R2148.46
R1148.06
Daily Pivot147.65
S1147.24
S2146.83
S3146.43

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