USDJPY Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.34% | 46.8 Pips |  |
||
| Week 2023-06-09 | -0.42% | -59.2 Pips |  |
||
| June | 0.04% | 5.6 Pips | |
||
Upcoming key events for the new week (London Time)
Tue 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) Tue 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (12-mth) Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate) Wed 07:00 PM USD FOMC Monetary Policy Statement Wed 07:00 PM USD FOMC Economic Projections 
Thu 01:30 PM USD Initial Unemployment Insurance Claims Thu 01:30 PM USD Monthly Retail Trade (1-mth) Thu 01:30 PM USD Retail Trade Control Group
Fri 04:00 AM JPY Bank of Japan Short-Term Policy Interest Rate Fri 04:00 AM JPY Bank of Japan Monetary Policy Statement Fri 07:00 AM JPY Bank of Japan Press Conference Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened over the week
🇺🇸 In the week ending 03 June, U.S. Initial Unemployment Insurance Claims rose to 261K compared to previous figure 233K (revised from 232K) Source: Department of Labor 🇯🇵 Japan GDP (12-mth) in Q1 exceed forecast and rose to 2.7% compared to previous figure 1.6% in Q4 🇯🇵 Japan GDP (3-mth) in Q1 below forecast and dropped to -0.3% compared to previous figure 0.4% in Q4 Source: Cabinet Office 🇯🇵 Japan Current Account non seasonal adjustment in April exceed forecast and dropped to 1895.1¥ compared to previous figure 2278.1¥ in March 🇺🇸 U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$) 🇯🇵 Overall Household Spending (12-mth) in April exceed forecast and dropped to -4.4% compared to previous figure -1.9% in March Source: Statistics Bureau of Japan 🇺🇸 Factory Orders (1-mth) in April exceed forecast and rose to 4% compared to previous figure 0.9% in March Source: Census Bureau
What can we expect from USDJPY for the new week and what happened on Friday?
USDJPY on Friday rose 0.34% to 139.35. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2023-06-09, the pair dropped -0.42% or -59.2 pips lower.
Looking ahead on Monday, USDJPY looks mixed as the pair is likely to consolidate above week low of 138.80.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 140.45 or at least consolidates above Weekly Pivot level of 139.54. On the downside, we are looking at week low 138.80 or 138.62 (WS1) as immediate support level. USDJPY need to break on either side to indicate a short-term bias. A close below week low of 138.80 would indicate selling pressure.
For the month of June, USDJPY is up by 0.04% or 5.6 pips higher.
Weekly key levels to watch out:
| R3 | 141.93 |
| R2 | 141.19 |
| R1 | 140.27 |
| Weekly Pivot | 139.54 |
| S1 | 138.62 |
| S2 | 137.88 |
| S3 | 136.97 |
You might also be interested in:
Monthly Wholesale Trade: Sales and Inventories Source: Census Bureau Marine Economy Satellite Account, 2021 Source: Bureau of Economic Analysis U.S. International Trade in Goods and Services, April 2023 Source: Bureau of Economic Analysis
Quarterly GDP bulletin Source: Cabinet Office U.S. International Trade in Goods and Services Source: Census Bureau Quarterly Financial Report Source: Census Bureau Quarterly Financial Report – Retail Source: Census Bureau Trade Statistics (First 20 Days of May 2023 [Provisional]) Source: Ministry of Finance Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau
#USDJPY trending on Twitter
[custom-twitter-feeds hashtag=”#USDJPY” num=3 showheader=false]
Important Notice: We do not endorsed nor verified the posts provided by Twitter widget.
