USDJPY on Thursday rose 1.04% to 157.24. What we know.

USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	1.04%	162.001 Pips
Week to-date	-0.67%	-106.3 Pips
July	-2.27%	-365.7 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇯🇵 Japan’s National CPI Inflation Rate for June remained unchanged at 2.8% compared to May. Source: Statistics Bureau of Japan
The U.S. Manufacturing Business Outlook Survey in July rose to 13.9 points from the previous figure of 1.3 points in June. Source: Philadelphia Fed
🇯🇵 Japan Merchandise Trade Balance Total in June rose to 224¥ compared to previous figure -1220.1¥ (revised from -1.221¥) Source: Ministry of Finance Japan
🇯🇵 Japan’s 12-month export growth in June dropped to 5.4% from 13.5% in May. Source: Ministry of Finance Japan
🇯🇵 Japan’s 12-month import growth rate in June dropped to 3.2% from 9.5% in May. Source: Ministry of Finance Japan
🇺🇸 U.S. Industrial Production (1-mth) in June dropped to 0.9% compared to previous figure 1% (revised from 0.9%)

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What can we expect from USDJPY today?

USDJPY on Thursday rose 1.04% to 157.24. Price is below 9-Day EMA while Stochastic is rising.

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 is R1 at 157.94 with break above could target R2 at 158.65. While towards the downside, we are looking at daily low of 155.45 as an important support. Break below this level could weaken the current bullish momentum. A break above 157.40 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is bearish as the pair posted lower by -0.67%.

Key levels to watch out: