USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.22% | 31.6 Pips |  |
||
| Week to-date | 0.75% | 108.1 Pips | |
||
| June | 3.9% | 543.7 Pips |  |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. GDP Annualized in Q1 exceed forecast and rose to 2% compared to previous figure 1.3% in Q4 Bureau of Economic Analysis 🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 below forecast and dropped to 4.9% compared to previous figure 5% in Q4 Bureau of Economic Analysis
🇯🇵 Japan Large Retailer Sales in May below forecast and dropped to 3.4% compared to previous figure 4.8% in April METI 🇯🇵 Japan Retail Trade (12-mth) in May exceed forecast and rose to 5.7% compared to previous figure 5.1, revised from 5% in April METI
What can we expect from USDJPY today?
USDJPY on Thursday rose 0.22% to 144.74. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
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 R1 at 145.05 with break above could target R2 at 145.36. While towards the downside, we are looking at daily low of 144.13 as an important support. Break below this level could weaken the current bullish momentum. A break above 144.90 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 0.75% over the past few days.
Key levels to watch out:
| R3 | 145.82 |
| R2 | 145.36 |
| R1 | 145.05 |
| Daily Pivot | 144.59 |
| S1 | 144.28 |
| S2 | 143.82 |
| S3 | 143.5 |
You might be interested in:
Preliminary Report on Current Survey of Production (May 2023). Ministry of Economy, Trade and Industry Preliminary Report on Indices of Industrial Production (May 2023). Ministry of Economy, Trade and Industry
Powell, Financial Stability and Economic Developments. Federal Reserve Consumer Confidence Survey. Cabinet Office Federal Reserve Board releases results of annual bank stress test, which demonstrates that large banks are well positioned to weather a severe recession and continue to lend to households and businesses even during a severe recession. Federal Reserve Speech by Board Member NOGUCHI in Okinawa on June 22, 2023 (Economic Activity, Prices, and Monetary Policy in Japan). Bank of Japan U.S. International Investment Position, 1st Quarter 2023 and Annual Update. Bureau of Economic Analysis Trade Statistics (First 10 Days of June 2023 [Provisional]). Ministry of Finance Preliminary Report on the Current Survey of Commerce (May 2023). Ministry of Economy, Trade and Industry Advance Retail Inventories. Census Bureau Advance U.S. International Trade in Goods. Census Bureau Advance Wholesale Inventories. Census Bureau New Home Sales. Census Bureau Quarterly Survey of Overseas Subsidiaries （Survey from January to March 2023）. Ministry of Economy, Trade and Industry Speech by Board Member ADACHI in Kagoshima on June 21, 2023 (Economic Activity, Prices, and Monetary Policy in Japan). Bank of Japan Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
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