USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.12% | -18.1 Pips |  |
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| Week to-date | 1.55% | 236.9 Pips |  |
||
| May | -1.51% | -238.2 Pips | |
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Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇯🇵 Japan Labor Cash Earnings (12-mth) in March rose to 2% compared to previous figure 1.4% (revised from 1.8%) 🇺🇸 In the week ending 04 May, U.S. Initial Unemployment Insurance Claims rose to 231K compared to previous figure 209K (revised from 208K) Source: Department of Labor
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What can we expect from USDJPY today?
USDJPY on Thursday dropped -0.12% to 155.32. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 154.99 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 155.95 or trades above daily pivot 155.47. While to the downside, the daily low of 155.14 and 154.99 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 155.14 would indicate selling pressure.
For the week to-date, take note that USDJPY is mixed as compared to prior week.
Key levels to watch out:
| R3 | 156.6 |
| R2 | 156.28 |
| R1 | 155.8 |
| Daily Pivot | 155.47 |
| S1 | 154.99 |
| S2 | 154.66 |
| S3 | 154.18 |
