USDJPY Analysis
| Performance after Tuesday | |||
| Period | Pct | Chg | Momentum |
| Tuesday | 0.05% | 8.0 Pips | ▲ |
| Week to-date | -0.01% | -2.0 Pips | ▼ |
| July | 0.79% | 128.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Thu 02:00 AM | USD | HIGH | Fed Interest Rate Decision (Federal Funds Rate) |
| Thu 08:30 PM | USD | HIGH | PCE Price Index, excluding food and energy (1-mth) | Jun |
| Fri 07:30 AM | JPY | HIGH | Tokyo CPI (Inflation Rate) (12-mth) | Jul |
| Fri 07:30 AM | JPY | HIGH | Tokyo CPI excluding fresh food and energy (12-mth) | Jul |
What can we expect from USDJPY today?
The USDJPY pair closed with a slight gain of 0.05% on Tuesday, ending the day at 163.82000. The daily outlook remains bullish as the price stays above the 9-day EMA, with stochastic indicators rising in the overbought zone.
📈 Bull Scenario A bullish scenario could unfold if the pair breaks above the immediate resistance level at R1, 163.96. Sustained buying pressure might push the price further towards the next resistance at R2, 164.11. The positive daily outlook and technical indicators support potential upward movement. | 📉 Bear Scenario Conversely, a bearish scenario might develop if the USDJPY falls below the daily pivot point of 163.8, triggering a move towards the first support level at S1, 163.65. Further selling pressure could lead the pair to test the second support level at S2, 163.49. Despite the bullish daily outlook, the mixed weekly performance suggests caution. |
Key levels to watch out:
| R3 | 164.27 |
| R2 | 164.11 |
| R1 | 163.96 |
| Daily Pivot | 163.8 |
| S1 | 163.65 |
| S2 | 163.49 |
| S3 | 163.34 |