USDJPY on Thursday dropped -2.21% to 144.05. Buyers beware. How it happened.

USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-2.21%	-325.5 Pips
Week to-date	-1.85%	-271.9 Pips
December	-2.78%	-412.3 Pips

Upcoming key events (London Time)

Thu 11:50 PM JPY GDP (3-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. Challenger Job Cuts in November rose to 45.51K compared to previous figure 36.836K in October
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 exceed forecast and rose to 5.2% compared to previous figure 4.7% in Q2 Source: Bureau of Labor Statistics

Latest from X (Twitter)

Tweets by Bank_of_Japan_e

What can we expect from USDJPY today?

USDJPY on Thursday dropped -2.21% to 144.05. 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 141.37 (S1) with break below could see further selling pressure towards 138.7 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 147.21 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 141.62 would indicate selling pressure.

For the week to-date, take note that USDJPY is bearish as the pair posted lower by -1.85%.

Key levels to watch out: