USDJPY on Tuesday rose 0.40% to 134.91. Buying interest. What we know.

USDJPY by TradingView

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.40%	53.1 Pips
Week to-date	0.60%	80.1 Pips
February	3.69%	480.5 Pips

Upcoming key events (London Time)

Wed 03:00 PM JPY The Emperor’s Birthday
Wed 07:00 PM USD FOMC Minutes
Thu 01:30 PM USD Gross Domestic Product Annualized

What happened lately

📆 🇺🇸 USD S&P Global Composite PMI in February preliminary estimate exceed forecast and rose to 50.2 points compared to previous figure 46.8 points in January. Source
📆 🇺🇸 USD S&P Global Services PMI in February preliminary estimate exceed forecast and rose to 50.5 points compared to previous figure 46.8 points in January. Source

What can we expect from USDJPY today?

USDJPY on Tuesday rose 0.40% to 134.91. Price is above 9-Day EMA while Stochastic is falling but in overbought zone.

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 135.38 (R1) while on the downside, we are looking at daily low of 134.14 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 135.23 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

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Last updated: 11:39 pm UTC, 21-Feb 2023

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