USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.2% | 26.4 Pips |  |
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| Week to-date | 1.74% | 228 Pips |  |
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| March | -2.35% | -320.3 Pips | |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
π π―π΅ JPY Large Retailer Sales | Feb in February exceed forecast and dropped to 4.7% compared to previous figure 5.3% in January. Source: METI π π―π΅ JPY Retail Trade seasonal adjustment (1-mth) | Feb in February exceed forecast and dropped to 1.4% compared to previous figure 1.9% in January. Source: METI π π―π΅ JPY Industrial Production (12-mth) | Feb flash in February preliminary estimate below forecast and improved to -0.6% compared to previous figure -3.1% in January. Source: METI π π―π΅ JPY Industrial Production (1-mth) | Feb flash in February preliminary estimate exceed forecast and rose to 4.5% compared to previous figure -5.3% in January. Source: METI π π―π΅ JPY Retail Trade (12-mth) | Feb in February exceed forecast and rose to 6.6% compared to previous figure 5, revised from 6.3% in January. Source: METI π π―π΅ JPY Tokyo CPI ex Food, Energy (12-mth) | Mar in March exceed forecast and rose to 3.4% compared to previous figure 3.2% in February. Source: Statistics Bureau of Japan π π―π΅ JPY Tokyo CPI ex Fresh Food (12-mth) | Mar in March exceed forecast and dropped to 3.2% compared to previous figure 3.3% in February. Source: Statistics Bureau of Japan π π―π΅ JPY Tokyo CPI (Inflation Rate) (12-mth) | Mar in March exceed forecast and dropped to 3.3% compared to previous figure 3.4% in February. Source: Statistics Bureau of Japan π π―π΅ JPY Jobs / Applicants Ratio | Feb in February below forecast and dropped to 1.34 points compared to previous figure 1.35 points in January. Source: JILPT π π―π΅ JPY Unemployment Rate | Feb in February exceed forecast and rose to 2.6% compared to previous figure 2.4% in January. Source: Statistics Bureau of Japan
π πΊπΈ USD Core Personal Consumption Expenditures (3-mth) | Q4 in Q4 exceed forecast and rose to 4.4% compared to previous figure 4.3% in Q3. Source: Bureau of Economic Analysis π β’οΈ πΊπΈ USD GDP Annualized | Q4 in Q4 below forecast and dropped to 2.6% compared to previous figure 2.7% in Q3. Source: Bureau of Economic Analysis π πΊπΈ USD Pending Home Sales (1-mth) | Feb in February exceed forecast and dropped to 0.8% compared to previous figure 8.1% in January.
What can we expect from USDJPY today?
USDJPY on Thursday rose 0.2% to 132.98. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for USDJPY looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is at 133.25 (R1) while on the downside, we are looking at daily low of 132.18 as an important support. Break below this level could weaken the current bullish momentum. A break above 132.98 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDJPY is mixed as the current price action remain uncertain due to trader indecisiveness.
Key levels to watch out:
| R3 | 134.05 |
| R2 | 133.52 |
| R1 | 133.25 |
| Daily Pivot | 132.71 |
| S1 | 132.45 |
| S2 | 131.91 |
| S3 | 131.64 |
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Preliminary Report on Current Survey of Production (February 2023) Source: Ministry of Economy, Trade and Industry Preliminary Report on Indices of Industrial Production (February 2023) Source: Ministry of Economy, Trade and Industry Preliminary Report on the Current Survey of Commerce (February 2023) Source: Ministry of Economy, Trade and Industry
U.S. International Investment Position, 4th Quarter and Year 2022 Source: Bureau of Economic Analysis Trade Statistics (First 10 Days of March 2023 [Provisional]) Source: Ministry of Finance Advance Retail Inventories Source: Census Bureau Advance U.S. International Trade in Goods Source: Census Bureau Advance Wholesale Inventories Source: Census Bureau Quarterly Survey of Overseas Subsidiaries οΌSurvey from October to December 2022οΌ Source: Ministry of Economy, Trade and Industry
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