USDJPY on Thursday rose 0.23% to 155.59. What we know.

USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.23%	36.3 Pips
Week to-date	0.66%	102.6 Pips
April	2.83%	428.5 Pips

Upcoming key events (London Time)

Fri 12:30 AM JPY Tokyo CPI (Inflation Rate) (12-mth)
Fri 04:00 AM JPY Bank of Japan Short-Term Policy Interest Rate
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇯🇵 Japan Tokyo CPI excluding fresh food (12-mth) in April dropped to 1.6% compared to previous figure 2.4% in March Source: Statistics Bureau of Japan
🇯🇵 Japan Tokyo CPI excluding fresh food and energy (12-mth) in April dropped to 1.8% compared to previous figure 2.9% in March Source: Statistics Bureau of Japan
🇯🇵 Japan Tokyo CPI (Inflation Rate) (12-mth) in April dropped to 1.8% compared to previous figure 2.6% in March Source: Statistics Bureau of Japan
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 flash estimate rose to 3.7% compared to previous figure 2% in Q4 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q1 flash estimate dropped to 1.6% compared to previous figure 3.4% in Q4 Source: Bureau of Economic Analysis
🇺🇸 In the week ending 20 April, U.S. Initial Unemployment Insurance Claims dropped to 207K compared to previous figure 212K Source: Department of Labor
🇺🇸 U.S. Nondefense Capital Goods Orders excluding Aircraft in March dropped to 0.2% compared to previous figure 0.4% (revised from 0.7%) Source: Census Bureau

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What can we expect from USDJPY today?

USDJPY on Thursday rose 0.23% to 155.59. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

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 155.81 with break above could target R2 at 156.03. While towards the downside, we are looking at daily low of 155.24 as an important support. Break below this level could weaken the current bullish momentum. A break above 155.75 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 0.66% over the past few days.

Key levels to watch out: