USDJPY on Thursday dropped -0.91% to 141.56. Looking bearish. What we know.

USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.91%	-129.4 Pips
Week to-date	-0.65%	-92.799 Pips
September	-2.3%	-333.2 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD The Index of Consumer Sentiment| Sep flash

What happened lately

The U.S. Monthly Treasury Budget Statement in August dropped to -$380 billion compared to -$244 billion in July. Source: Bureau of the Fiscal Service
🇺🇸 In the week ending 07 September, U.S. Initial Unemployment Insurance Claims rose to 230K compared to previous figure 228K (revised from 227K) Source: Department of Labor
🇺🇸 U.S. Producer Price Index (12-mth) in August dropped to 1.7% compared to the revised July figure of 2.2%. Source: Bureau of Labor Statistics
🇺🇸 U.S. PPI excluding Food and Energy sectors (12-mth) remained unchanged at 2.4% in August compared to July’s report. Source: Bureau of Labor Statistics
🇺🇸 U.S. Producer Price Index (1-mth) for August rose to 0.2%, up from 0.1% in July. Source: Bureau of Labor Statistics
In August, the U.S. PPI excluding Food and Energy sectors increased to 0.3% from the revised July figure of -0.2%. Source: Bureau of Labor Statistics
🇺🇸 The U.S. Consumer Price Index (CPI) inflation rate for August remained steady at 0.2%, unchanged from the rate reported in July. Source: Bureau of Labor Statistics
🇺🇸 The U.S. CPI inflation rate over 12-month period for August decreased to 2.5% from 2.9% in July. Source: Bureau of Labor Statistics

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What can we expect from USDJPY today?

USDJPY on Thursday dropped -0.91% to 141.56. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at 141.05 (S1) with break below could see further selling pressure towards 140.54 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 143.04 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 141.54 would indicate selling pressure.

For the week to-date, take note that USDJPY is bearish as the pair posted lower by -0.65%.

Key levels to watch out: