USDJPY on Thursday rose 0.46% to 146.07. What we know.

USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.46%	67.2 Pips
Week to-date	-1.28%	-188.899 Pips
August	-2.46%	-367.7 Pips

Upcoming key events (London Time)

Fri 01:30 AM JPY Bank of Japan Governor Kazuo Ueda speech
Fri 03:00 PM USD Federal Reserve Chair Jerome Powell speech
Sat 01:00 AM USD Jackson Hole Symposium

What happened lately

🇯🇵 Japan’s national CPI inflation rate excluding food and energy for July decreased to 1.9% from the previous figure of 2.2% in June. Source: Statistics Bureau of Japan
Japan’s National CPI Inflation Rate for July remained unchanged at 2.8% compared to June. Source: Statistics Bureau of Japan
Japan’s national CPI inflation rate excluding fresh food rose to 2.7% in July, up from 2.6% in June. Source: Statistics Bureau of Japan
🇺🇸 In the week ending 17 August, U.S. Initial Unemployment Insurance Claims rose to 232K compared to previous figure 228K (revised from 227K) Source: Department of Labor
Japan’s merchandise trade balance in July dropped to -621.8¥ from 224¥ in June. Source: Ministry of Finance Japan
🇯🇵 Japan’s 12-month export growth rose to 10.3% in July, compared to 5.4% in June. Source: Ministry of Finance Japan
🇯🇵 Japan’s 12-month import growth surged to 16.6% in July, up from 3.2% in June. Source: Ministry of Finance Japan

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What can we expect from USDJPY today?

USDJPY on Thursday rose 0.46% to 146.07. Price is below 9-Day EMA while Stochastic is falling.

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 146.75 with break above could target R2 at 147.43. While towards the downside, we are looking at daily low of 144.94 as an important support. Break below this level could weaken the current bullish momentum. A break above 146.53 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: