|Performance after Thursday|
|Week to-date||-0.9%||-118.1 Pips|
Upcoming key events (London Time)
Fri 12:30 PM USD Durable Goods Orders
Fri 12:30 PM USD Nondefense Capital Goods excluding Aircraft
What happened lately
📆 🇺🇸 USD Chicago Fed National Activity Index in February below forecast and dropped to -0.19 points compared to previous figure 0.23 points in January. Source
📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision (Federal Funds Rate) rose to 5% compared to previous rate 4.75%. Source
What can we expect from USDJPY today?
USDJPY on Thursday dropped -0.3% to 130.78. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 130.66 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 130.94 or trades above daily pivot 130.8. While to the downside, the daily low of 130.68 and 130.66 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 130.68 would indicate selling pressure.
For the week to-date, take note that USDJPY is bearish as the pair posted lower by -0.9%.
Key levels to watch out:
You might be interested in:
U.S. International Transactions, 4th Quarter and Year 2022 Source: Bureau of Economic Analysis
Index Suggests Economic Growth Declined in February Source: Chicago Fed
Federal Reserve Board and Federal Open Market Committee release economic projections from the March 21-22 FOMC meeting Source: Federal Reserve
Federal Reserve issues FOMC statement Source: Federal Reserve
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