USDJPY on Thursday rose 0.5% to 158.88. What we know.

USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.5%	79.8 Pips
Week to-date	0.84%	132.899 Pips
June	1.22%	192.2 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in June dropped to 1.3 points compared to previous figure 4.5 points in May
🇯🇵 Japan Imports (12-mth) in May rose to 9.5% compared to previous figure 8.3% in April Source: Ministry of Finance Japan
🇯🇵 Japan Merchandise Trade Balance Total in May rose to -462.5¥ compared to previous figure -465.6¥ (revised from -462.5¥) Source: Ministry of Finance Japan
🇯🇵 Japan Exports (12-mth) in May rose to 13.5% compared to previous figure 8.3% in April Source: Ministry of Finance Japan

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What can we expect from USDJPY today?

USDJPY on Thursday rose 0.5% to 158.88. Price is above 9-Day EMA while Stochastic is rising 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 159.23 with break above could target R2 at 159.59. While towards the downside, we are looking at daily low of 157.93 as an important support. Break below this level could weaken the current bullish momentum. A break above 158.94 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 0.84% over the past few days.

Key levels to watch out: