USDJPY on Wednesday rose 0.56% to 133.91. Buying interest. What we know.

USDJPY by TradingView

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.56%	75.1 Pips
Week to-date	1.95%	256.2 Pips
February	2.94%	381.9 Pips

Upcoming key events (London Time)

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What happened lately

📆 ☢️ 🇺🇸 USD Retail Sales Control Group in January exceed forecast and rose to 1.7% compared to previous figure -0.7% in December. Source
📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (YoY) in January exceed forecast and dropped to 5.6% compared to previous figure 5.7% in December. 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 Wednesday rose 0.56% to 133.91. Price is above 9-Day EMA while Stochastic is rising but in overbought zone.

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 we are looking at 134.67 (R1) while on the downside, we are looking at daily low of 132.52 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 134.36 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 1.95% and continued to trade higher in the past few days.

Key levels to watch out:

You might also be interested in:

Monthly Report on the Current Survey of Commerce (December 2022) Source: Ministry of Economy, Trade and Industry
Report on Indices of Tertiary Industry Activity (December 2022) Source: Ministry of Economy, Trade and Industry
CPI for all items rises 0.5% in January as shelter increases Source: Bureau of Labor Statistics Publications
The Time Series Data on Current Production Statistics Source: Ministry of Economy, Trade and Industry
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: 11:40 pm UTC, 15-Feb 2023

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