USDJPY Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.44% | 58.6 Pips |  |
||
| Week 2023-05-05 | -1.04% | -142.1 Pips |  |
||
| May | -1.04% | -142.1 Pips | |
||
Upcoming key events for the new week (London Time)
Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (12-mth) 
Thu 01:30 PM USD Initial Unemployment Insurance Claims Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened over the week
🇺🇸 Nonfarm Payroll Employment in April exceed forecast and rose to 253K compared to previous figure 165K, revised from 236K in March Source: Bureau of Labor Statistics USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). Source: Bureau of Labor Statistics 🇺🇸 In the week ending 29 April, the Initial Unemployment Insurance Claims rose to 242K compared to previous figure 229K (revised from 230K) Source: Department of Labor 🇺🇸 Goods and Services Trade Balance in March exceed forecast and improved to -64.2$ compared to previous figure -70.6, revised from -70.5$ in February 🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Source: Federal Reserve 🇺🇸 Factory Orders (1-mth) in March exceed forecast and rose to 0.9% compared to previous figure -1.1, revised from -0.7% in February Source: Census Bureau
What can we expect from USDJPY for the new week and what happened on Friday?
USDJPY on Friday rose 0.44% to 134.82. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2023-05-05, the pair dropped -1.04% or -142.1 pips lower.
Looking ahead on Monday, USDJPY looks mixed as the pair is likely to consolidate above week low of 133.50.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 137.77 or at least consolidates above Weekly Pivot level of 135.36. On the downside, we are looking at week low 133.50 or 132.95 (WS1) as immediate support level. USDJPY need to break on either side to indicate a short-term bias. A close below week low of 133.50 would indicate selling pressure.
For the month of May, USDJPY is down by -1.04% or -142.1 pips lower.
Weekly key levels to watch out:
| R3 | 141.51 |
| R2 | 139.64 |
| R1 | 137.23 |
| Weekly Pivot | 135.36 |
| S1 | 132.95 |
| S2 | 131.09 |
| S3 | 128.68 |
You might also be interested in:
Advanced Monthly Sales for Retail and Food Services Source: Census Bureau Payroll employment rises by 253,000 in April; unemployment rate changes little at 3.4% Source: Bureau of Labor Statistics Publications U.S. International Trade in Goods and Services, March 2023 Source: Bureau of Economic Analysis U.S. International Trade in Goods and Services Source: Census Bureau Housing Vacancies and Homeownership Source: Census Bureau Rental Vacancy Rate Source: Census Bureau Federal Reserve issues FOMC statement Source: Federal Reserve Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau Construction Spending Source: Census Bureau
Consumer Confidence Survey Source: Cabinet Office
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