USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.49% | -76.5 Pips |  |
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| Week to-date | -0.08% | -12.8 Pips |  |
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| May | -0.56% | -88.5 Pips | |
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Upcoming key events (London Time)
Fri 12:30 AM JPY Tokyo CPI (Inflation Rate) (12-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth) Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
What happened lately
🇯🇵 Japan Unemployment Rate in April unchanged at 2.6% compared to previous report in March. Source: Statistics Bureau of Japan 🇺🇸 U.S. GDP Annualized in Q1 flash estimate dropped to 1.3% compared to previous figure 1.6% in Q4 Source: Bureau of Economic Analysis 🇺🇸 In the week ending 25 May, U.S. Initial Unemployment Insurance Claims rose to 219K compared to previous figure 216K (revised from 215K) Source: Department of Labor
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What can we expect from USDJPY today?
USDJPY on Thursday dropped -0.49% to 156.81. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
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 156.25 (S1) with break below could see further selling pressure towards 155.68 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 157.63 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 156.37 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 | 158.77 |
| R2 | 158.2 |
| R1 | 157.51 |
| Daily Pivot | 156.94 |
| S1 | 156.25 |
| S2 | 155.68 |
| S3 | 154.99 |
