USDJPY on Friday rose 0.11% to 151.51000. Week ending 2023-11-10 rose 1.46%. What happened.

USDJPY Analysis

Performance
Period	Pct	Chg	Momentum
Friday	0.11%	17.1 Pips
Week 2023-11-10	1.46%	217.9 Pips
November	-0.08%	-11.5 Pips

Upcoming key events for the new week (London Time)

Tue 01:30 PM CPI Inflation Rate (1-mth)
Tue 01:30 PM CPI Inflation Rate (12-mth)
Tue 11:50 PM GDP (3-mth)
Wed 01:30 PM PPI excluding Food and Energy sectors (12-mth)
Wed 01:30 PM Monthly Retail Trade (1-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims

What happened over the week

🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in November preliminary estimate exceed forecast and rose to 3.2% compared to previous figure 3% in October Source: University of Michigan
🇺🇸 U.S. Michigan Index of Consumer Sentiment in November preliminary estimate below forecast and dropped to 60.4 points compared to previous figure 63.8 points in October Source: University of Michigan
🇯🇵 Japan Labor Cash Earnings (12-mth) in September exceed forecast and rose to 1.2% compared to previous figure 1.1% in August

From X (Twitter)

🇯🇵 Japan Labor Cash Earnings (12-mth) in September exceed forecast and rose to 1.2% compared to previous figure 1.1% in August #japan #economy #jobsearnings

— ChatPips Streamer (@forexforum) November 12, 2023

What can we expect from USDJPY for the new week and what happened on Friday?

USDJPY on Friday rose 0.11% to 151.51. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2023-11-10, the pair rose 1.46% or 217.9 pips higher.

Looking ahead on Monday, USDJPY looks bullish as the pair ended higher after Friday trading session.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 151.60 or at least consolidates above Weekly Pivot level of 150.80. On the downside, we are looking at week low 149.30 or 150.01 (WS1) as immediate support level. USDJPY need to break on either side to indicate a short-term bias. A break above 151.60 would suggest bullish bias after recent positive movement.

For the month of November, USDJPY is down by -0.08% or -11.5 pips lower.

Weekly key levels to watch out:

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