USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.12% | 18.5 Pips |  |
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| Week to-date | 0% | 0.5 Pips |  |
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| March | 0.98% | 146.3 Pips | |
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Upcoming key events (London Time)
Thu 11:30 PM JPY Tokyo CPI (Inflation Rate) (12-mth)
Fri 12:30 PM USD Personal Consumption Expenditures Price Index (1-mth) Fri 12:30 PM USD Personal Consumption Expenditures Price Index (12-mth) Fri 03:30 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇺🇸 U.S. Michigan Index of Consumer Sentiment in March rose to 79.4 points compared to previous figure 76.5 points in February Source: University of Michigan 🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in March dropped to 2.8% compared to previous figure 2.9% in February Source: University of Michigan 🇺🇸 In the week ending 23 March, U.S. Initial Unemployment Insurance Claims dropped to 210K compared to previous figure 212K (revised from 210K) Source: Department of Labor
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What can we expect from USDJPY today?
USDJPY on Thursday rose 0.12% to 151.43. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 151.2 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 151.54 or trades above daily pivot 151.37. While to the downside, the daily low of 151.14 and 151.2 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 151.54 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDJPY is mixed as compared to prior week.
Key levels to watch out:
| R3 | 152 |
| R2 | 151.77 |
| R1 | 151.6 |
| Daily Pivot | 151.37 |
| S1 | 151.2 |
| S2 | 150.97 |
| S3 | 150.8 |