USDJPY on Thursday dropped -1.21% to 142.33. Looking bearish. What we know.
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Open High Low Close
144.30 145.90 140.33 142.33
Performance after Thursday
Period Pct Chg Momentum
Thursday -1.21% -173.8 Pips
Week to-date -0.40% -57.6 Pips
September 2.35% 326.5 Pips

Upcoming key events (London Time)

Fri 07:00 PM USD Fed’s Chair Powell speech

What happened lately

📆 USD In the week ending 17 September, the Initial Jobless Claims rose to 213K compared to previous figure 208K (revised from 213K).. Source
📆 ☢️ 🇯🇵 JPY BoJ Interest Rate Decision unchanged at -0.1% compared to previous rate -0.1%. Source
📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision rose to 3.25% compared to previous rate 2.5%. Source
📆 🇯🇵 JPY National CPI ex Food, Energy (YoY) in August below forecast and rose to 1.6% compared to previous figure 1.2% in July. Source
📆 🇯🇵 JPY National CPI ex-Fresh Food (YoY) in August exceed forecast and rose to 2.8% compared to previous figure 2.4% in July. Source
📆 🇯🇵 JPY National Consumer Price Index (YoY) in August exceed forecast and rose to 3% compared to previous figure 2.6% in July. Source

What can we expect from USDJPY today?

USDJPY on Thursday dropped -1.21% to 142.33. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDJPY looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at 139.81 (S1) with break below could see further selling pressure towards 137.28 (S2). On the upside, immediate resistance is at 145.38 (R1). As the current momentum is bearish, we prefer to look at firm break of the recent daily high of 145.90 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 140.33 would indicate selling pressure.

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:

R3 150.95
R2 148.42
R1 145.38
Daily Pivot 142.85
S1 139.81
S2 137.28
S3 134.24

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Last updated: 12:37 am UTC, 23-Sep 2022

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