|Performance after Thursday|
|Week to-date||2.06%||279.9 Pips|
Upcoming key events (London Time)
Fri 01:30 PM USD Retail Sales (MoM)
Fri 01:30 PM USD Retail Sales Control Group
Fri 03:00 PM USD Michigan Consumer Sentiment Index
What happened lately
📆 🇯🇵 JPY Industrial Production (YoY) in May exceed forecast and dropped to -4.7% compared to previous figure -2.8% in April. Source
📆 🇺🇸 USD Monthly Budget Statement in June exceed forecast and dropped to -89$ compared to previous figure -66$ in May. Source
📆 🇺🇸 USD Consumer Price Index (MoM) in June exceed forecast and rose to 1.3% compared to previous figure 1% in May. Source
What can we expect from USDJPY today?
USDJPY on Thursday rose 1.14% to 138.97. 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 Thursday trading session.
Looking ahead for the day, immediate upside resistance level we are looking at 139.81 (R1) while on the downside, we are looking at daily low of 137.30 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 139.39 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 2.06% and continued to trade higher in the past few days.
Key levels to watch out:
You might also be interested in:
PPI for final demand advances 1.1% in June; goods rise 2.4%, services increase 0.4% Source: Bureau of Labor Statistics Publications
Monthly Report of Current Production Statistics (May 2022) Source: Ministry of Economy, Trade and Industry
Revised Report on Indices of Industrial Production (May 2022) Source: Ministry of Economy, Trade and Industry
CPI for all items rises 1.3% in June; gasoline, shelter, food indexes rise Source: Bureau of Labor Statistics Publications
Minutes of the Board’s discount rate meetings from May 16 through June 15, 2022 Source: Federal Reserve
Last updated: 01:36 am UTC, 15-Jul 2022
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