USDJPY Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.41% | 58.3 Pips |  |
||
| Week 2023-06-23 | 1.29% | 183 Pips | |
||
| June | 3.13% | 435.6 Pips |  |
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Upcoming key events for the new week (London Time)
Tue 01:30 PM USD Durable Goods Orders Tue 01:30 PM USD Nondefense Capital Goods Orders excluding Aircraft Wed 09:30 PM USD Bank Stress Test Info 
Thu 01:30 PM USD Initial Unemployment Insurance Claims Thu 01:30 PM USD GDP Annualized (12-mth)
What happened over the week
🇯🇵 Japan National CPI Inflation Rate excluding Food and Energy (12-mth) in May below forecast and rose to 4.3% compared to previous figure 4.1% in April Source: Statistics Bureau of Japan 🇯🇵 Japan National CPI Inflation Rate excluding Fresh Food (12-mth) in May exceed forecast and dropped to 3.2% compared to previous figure 3.4% in April Source: Statistics Bureau of Japan 🇯🇵 Japan National CPI Inflation Rate (12-mth) in May below forecast and dropped to 3.2% compared to previous figure 3.5% in April Source: Statistics Bureau of Japan 🇺🇸 U.S. Chicago Fed National Activity Index in May below forecast and dropped to -0.15 points compared to previous figure 0.07 points in April 🇺🇸 U.S. Building Permits (1-mth) in May exceed forecast and rose to 1.491M compared to previous figure 1.417, revised from 1.416M in April Source: Census Bureau 🇯🇵 Japan Industrial Production (12-mth) in April exceed forecast and dropped to -0.7% compared to previous figure -0.3% in March Source: METI
What can we expect from USDJPY for the new week and what happened on Friday?
USDJPY on Friday rose 0.41% to 143.66. Price is above 9-Day EMA while Stochastic is rising in overbought zone. For the week ending 2023-06-23, the pair rose 1.29% or 183 pips higher.
Looking ahead on Monday, USDJPY looks bullish as the pair ended higher after Friday trading session.
As for the new week, our technical outlook looks bullish, immediate upside resistance level at 144.62 (WR1) with break above could target 145.59 (WR2). On the downside, we are looking at week low of 141.19 as an important support. Break below this level could weaken the current bullish momentum. A break above 143.87 would suggest bullish bias after recent positive movement.
For the month of June, USDJPY is up by 3.13% or 435.6 pips higher.
Weekly key levels to watch out:
| R3 | 147.30 |
| R2 | 145.59 |
| R1 | 144.62 |
| Weekly Pivot | 142.91 |
| S1 | 141.94 |
| S2 | 140.22 |
| S3 | 139.26 |
You might also be interested in:
U.S. International Transactions, 1st Quarter 2023 and Annual Update Source: Bureau of Economic Analysis Powell, Semiannual Monetary Policy Report to the Congress Source: Federal Reserve
The Time Series Data on Current Production Statistics Source: Ministry of Economy, Trade and Industry Minutes of the Monetary Policy Meeting on April 27 and 28, 2023 Source: Bank of Japan Business Formation Statistics Source: Census Bureau New Residential Construction Source: Census Bureau Monthly Report of Current Production Statistics (April 2023) Source: Ministry of Economy, Trade and Industry Revised Report on Indices of Industrial Production (April 2023) Source: Ministry of Economy, Trade and Industry
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