USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.13% | 18.1 Pips |  |
||
| Week to-date | -0.54% | -73.5 Pips |  |
||
| May | -1.41% | -192.2 Pips | |
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Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 In the week ending 06 May, the Initial Unemployment Insurance Claims rose to 264K compared to previous figure 242K Department of Labor
🇯🇵 Current Account non seasonal adjustment in March below forecast and rose to 2278.1¥ compared to previous figure 2197.2¥ in February 🇺🇸 CPI Inflation Rate (12-mth) in April below forecast and dropped to 4.9% compared to previous figure 5% in March Bureau of Labor Statistics
What can we expect from USDJPY today?
USDJPY on Thursday rose 0.13% to 134.46. 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 133.85 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 134.84 or trades above daily pivot 134.35. While to the downside, the daily low of 133.74 and 133.85 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 134.84 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDJPY is mixed as compared to prior week.
Key levels to watch out:
| R3 | 136.06 |
| R2 | 135.45 |
| R1 | 134.96 |
| Daily Pivot | 134.35 |
| S1 | 133.85 |
| S2 | 133.25 |
| S3 | 132.75 |
You might be interested in:
Summary of Opinions at the Monetary Policy Meeting on April 27 and 28, 2023. Bank of Japan Balance of Payments, March 2023 (Preliminary). Ministry of Finance
In April, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 4.9 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in April (SA); up 5.5 percent over the year (NSA).. Bureau of Labor Statistics Publications Trade Statistics (First 20 Days of April 2023 [Provisional]). Ministry of Finance
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