USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -1% | -143.3 Pips |  |
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| Week to-date | -0.02% | -3.1 Pips |  |
||
| December | -4.09% | -606.6 Pips | |
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Upcoming key events (London Time)
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 National CPI Inflation Rate excluding Fresh Food (12-mth) in November dropped to 2.5% compared to previous figure 2.9% in October Source: Statistics Bureau of Japan 🇯🇵 Japan National CPI Inflation Rate excluding Food and Energy (12-mth) in November below forecast and dropped to 3.8% compared to previous figure 4% in October Source: Statistics Bureau of Japan 🇯🇵 Japan National CPI Inflation Rate (12-mth) in November exceed forecast and dropped to 2.8% compared to previous figure 3.3% in October Source: Statistics Bureau of Japan 🇺🇸 U.S. Personal Consumption Expenditures Prices (3-mth) in Q3 below forecast and dropped to 2.6% compared to previous figure 2.8% in Q2 Source: Bureau of Economic Analysis 🇺🇸 U.S. Gross Domestic Product Price Index in Q3 below forecast and dropped to 3.3% compared to previous figure 3.5% in Q2 Source: Bureau of Economic Analysis 🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in December below forecast and dropped to -10.5 points compared to previous figure -5.9 points in November
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What can we expect from USDJPY today?
USDJPY on Thursday dropped -1% to 142.11. Price is below 9-Day EMA while Stochastic is rising.
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 141.56 (S1) with break below could see further selling pressure towards 141 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 143.57 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 142.01 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 | 144.68 |
| R2 | 144.12 |
| R1 | 143.12 |
| Daily Pivot | 142.56 |
| S1 | 141.56 |
| S2 | 141 |
| S3 | 139.99 |
