USDJPY on Thursday rose 1.28% to 149.16. What we know.

USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	1.28%	188.6 Pips
Week to-date	1.44%	211.699 Pips
August	-0.39%	-58.5 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in July decreased to -0.6% from 0.6% in June.
🇺🇸 U.S. Monthly Retail Trade (1-mth) in July rose to 1% from 0% in June. Source: Census Bureau
🇺🇸 In the week ending 10 August, U.S. Initial Unemployment Insurance Claims dropped to 227K compared to previous figure 234K (revised from 233K) Source: Department of Labor
🇺🇸 U.S. Retail Trade Control Group in July dropped to 0.3%, down from 0.9% in June. Source: Census Bureau
Japan’s GDP (3-month) in the Q2 flash estimate rose to 0.8%, compared to the previous figure of -0.5% in Q1. Source: Cabinet Office
🇯🇵 Japan’s GDP Deflator (12-month) in the Q2 flash estimate dropped to 3% compared to the previous figure of 3.4% in Q1.
🇯🇵 Japan’s GDP in the Q2 flash estimate rose to 3.1% compared to the previous figure of -1.8% in Q1.
🇺🇸 U.S. CPI Inflation Rate (1-mth) increased to 0.2% in July from -0.1% in June. Source: Bureau of Labor Statistics
The U.S. CPI Inflation Rate excluding Food and Energy sectors increased to 0.2% in July from 0.1% in June. Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in July dropped to 3.2%, down from 3.3% in June. Source: Bureau of Labor Statistics
🇺🇸 The U.S. CPI inflation rate for July dropped to 2.9% from the previous figure of 3% in June. Source: Bureau of Labor Statistics

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What can we expect from USDJPY today?

USDJPY on Thursday rose 1.28% to 149.16. Price is above 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 150.02 with break above could target R2 at 150.89. While towards the downside, we are looking at daily low of 147.05 as an important support. Break below this level could weaken the current bullish momentum. A break above 149.40 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 1.44% over the past few days.

Key levels to watch out: