USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.15% | 23 Pips |  |
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| Week to-date | 1.06% | 160.5 Pips |  |
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| April | 1.26% | 191.1 Pips | |
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Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Producer Price Index (1-mth) in March dropped to 0.2% compared to previous figure 0.6% in February 🇺🇸 U.S. Monthly Budget Statement in March improved to -236$ compared to previous figure -296$ in February Source: Bureau of the Fiscal Service
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What can we expect from USDJPY today?
USDJPY on Thursday rose 0.15% to 153.21. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 152.87 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 153.32 or trades above daily pivot 153.09. While to the downside, the daily low of 152.75 and 152.87 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 153.32 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDJPY is bullish as the pair continued to trade higher and is up by 1.06% over the past few days.
Key levels to watch out:
| R3 | 154 |
| R2 | 153.66 |
| R1 | 153.44 |
| Daily Pivot | 153.09 |
| S1 | 152.87 |
| S2 | 152.53 |
| S3 | 152.31 |
