USDJPY on Thursday rose 0.33% to 144.90. Things to look out.

USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.33%	48.099 Pips
Week to-date	0.62%	89.9 Pips
August	-3.24%	-484.5 Pips

Upcoming key events (London Time)

Fri 12:30 AM JPY Tokyo CPI (Inflation Rate) (12-mth)
Fri 01:30 PM USD PCE Price Index, excluding food and energy (1-mth)
Fri 01:30 PM USD PCE Price Index, excluding food and energy (12-mth)

What happened lately

🇯🇵 Japan’s large retailer sales in July dropped to 1%, compared to the previous figure of 7% in June. Source: METI
🇯🇵 Japan Retail Trade seasonal adjustment (1-mth) in July dropped to 0.2% from 0.6% in June. Source: METI
🇯🇵 Japan Retail Trade (12-mth) in July dropped to 2.6%, compared to the revised figure of 3.8% in June. Source: METI
🇯🇵 Japan’s annual retail trade growth in July dropped to 2.6%, down from 3.7% in June. Source: METI
🇯🇵 Japan’s Tokyo CPI (Inflation Rate) for August rose to 2.6% from 2.2% in July. Source: Statistics Bureau of Japan
🇯🇵 Japan’s Tokyo CPI excluding fresh food and energy (12-mth) increased to 1.6% in August from 1.5% in July. Source: Statistics Bureau of Japan
🇯🇵 Japan’s Tokyo CPI, excluding fresh food, increased to 2.4% in August from 2.2% in July. Source: Statistics Bureau of Japan
Japan’s unemployment rate in July rose to 2.7%, up from 2.5% in June. Source: Statistics Bureau of Japan
🇺🇸 U.S. Pending Home Sales (1-mth) in July dropped to -5.5%, compared to a previous figure of 4.8% in June.
🇺🇸 The U.S. GDP annual rate in the Q2 flash estimate rose to 3%, compared to the previous figure of 2.8% in Q1. Source: Bureau of Economic Analysis
🇺🇸 The U.S. GDP Price Index (Quarterly) rose to 2.5% in Q2 flash estimate, up from 2.3% in Q1. Source: Bureau of Economic Analysis
The U.S. Q2 flash estimate for PCE excluding food and energy prices (3-month) dropped to 2.8%, compared to the previous figure of 2.9% in Q1. Source: Bureau of Economic Analysis
🇺🇸 The U.S. PCE Price (3-month) for Q2’s flash estimate dropped to 2.5%, down from the previous 2.6% in Q1. Source: Bureau of Economic Analysis
🇺🇸 In the week ending 24 August, U.S. Initial Unemployment Insurance Claims dropped to 231K compared to previous figure 232K Source: Department of Labor

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What can we expect from USDJPY today?

USDJPY on Thursday rose 0.33% to 144.90. 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 145.55 with break above could target R2 at 146.2. While towards the downside, we are looking at daily low of 144.26 as an important support. Break below this level could weaken the current bullish momentum. A break above 145.55 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: