|Performance after Monday|
|Week to-date||-1.20%||-159.5 Pips|
Upcoming key events (London Time)
Wed 03:00 PM USD ISM Services PMI
What happened lately
📆 ☢️ 🇺🇸 USD ISM Manufacturing PMI in July exceed forecast and dropped to 52.8 points compared to previous figure 53 points in June. Source
📆 🇺🇸 USD S&P Global Manufacturing PMI in July below forecast and dropped to 52.2 points compared to previous figure 52.3 points in June. Source
What can we expect from USDJPY today?
USDJPY on Monday dropped -1.20% to 131.59. Price is below 9-Day EMA while Stochastic is falling but in oversold zone.
Updated daily direction for USDJPY looks bearish as the pair posted lower in Monday trading session.
Looking ahead for the day, immediate support level is at 130.88 (S1) with break below could see further selling pressure towards 130.17 (S2). On the upside, immediate resistance is at 132.87 (R1). As the current momentum is bearish, we prefer to look at firm break of the recent daily high of 133.44 as an important indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment.USDJPY need to break on either side to indicate a short-term bias. A close below 131.45 would indicate selling pressure.
For the week to-date, take note that USDJPY is bearish as the pair posted lower by -1.20%.
Key levels to watch out:
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Last updated: 12:38 am UTC, 02-Aug 2022
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