USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.26% | -35.3 Pips |  |
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| Week to-date | -1.48% | -201.1 Pips |  |
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| May | -1.48% | -201.1 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). 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) 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% Federal Reserve
What can we expect from USDJPY today?
USDJPY on Thursday dropped -0.26% to 134.24. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDJPY looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at 133.53 (S1) with break below could see further selling pressure towards 132.83 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 134.88 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 133.50 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 | 136.29 |
| R2 | 135.58 |
| R1 | 134.91 |
| Daily Pivot | 134.21 |
| S1 | 133.53 |
| S2 | 132.83 |
| S3 | 132.16 |
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U.S. International Trade in Goods and Services. Census Bureau Housing Vacancies and Homeownership. Census Bureau Rental Vacancy Rate. Census Bureau Federal Reserve issues FOMC statement. Federal Reserve Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
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