USDJPY on Tuesday rose 0.42% to 132.96. Buying interest. What we know.

USDJPY by TradingView

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.42%	56.2 Pips
Week to-date	1.23%	161.5 Pips
February	2.21%	287.2 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD Retail Sales (MoM)
Wed 01:30 PM USD Retail Sales Control Group

What happened lately

📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (MoM) in January unchanged at 0.4% compared to previous report in December. The actual figure is also in line with the forecast. Source
📆 🇯🇵 JPY Industrial Production (YoY) in December below forecast and improved to -2.4% compared to previous figure -2.8% in November. Source
📆 🇯🇵 JPY Gross Domestic Product Annualized in Q4 preliminary estimate below forecast and rose to 0.6% compared to previous figure -0.8% in Q3. Source

What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.42% to 132.96. Price is above 9-Day EMA while Stochastic is rising.

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

Looking ahead for the day, immediate upside resistance level we are looking at 133.69 (R1) while on the downside, we are looking at daily low of 131.50 as an important support. Break below this level could weaken the current bullish momentum. USDJPY need to break on either side to indicate a short-term bias. A break above 133.31 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is bullish as the pair is up by 1.23% and continued to trade higher in the past few days.

Key levels to watch out:

You might also be interested in:

Monthly Report of Current Production Statistics (December 2022) Source: Ministry of Economy, Trade and Industry
Revised Report on Indices of Industrial Production (December 2022) Source: Ministry of Economy, Trade and Industry
Quarterly GDP bulletin Source: Cabinet Office

Last updated: 11:39 pm UTC, 14-Feb 2023

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