USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.19% | 29.8 Pips |  |
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| Week to-date | 0.9% | 137.5 Pips |  |
||
| April | 2.19% | 331.2 Pips | |
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Upcoming key events (London Time)
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What happened lately
🇯🇵 Japan National CPI Inflation Rate (12-mth) in March dropped to 2.7% compared to previous figure 2.8% in February Source: Statistics Bureau of Japan 🇯🇵 Japan National CPI Inflation Rate excluding Food and Energy (12-mth) in March dropped to 2.9% compared to previous figure 3.2% in February Source: Statistics Bureau of Japan 🇯🇵 Japan National CPI Inflation Rate excluding Fresh Food (12-mth) in March dropped to 2.6% compared to previous figure 2.8% in February Source: Statistics Bureau of Japan
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in April rose to 15.5 points compared to previous figure 3.2 points in March 🇺🇸 In the week ending 13 April, Initial Unemployment Insurance Claims in U.S. was unchanged at 212K compared to previous figure 212K (revised from 211K) Source: Department of Labor
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What can we expect from USDJPY today?
USDJPY on Thursday rose 0.19% to 154.62. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 154.15 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 154.68 or trades above daily pivot 154.42. While to the downside, the daily low of 153.95 and 154.15 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 154.68 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDJPY is bullish as the pair continued to trade higher and is up by 0.9% over the past few days.
Key levels to watch out:
| R3 | 155.61 |
| R2 | 155.14 |
| R1 | 154.88 |
| Daily Pivot | 154.42 |
| S1 | 154.15 |
| S2 | 153.69 |
| S3 | 153.42 |