USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.39% | 54.6 Pips |  |
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| Week to-date | -0.53% | -75 Pips |  |
||
| May | 0.39% | 54.6 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 In the week ending 27 May, the Initial Unemployment Insurance Claims rose to 232K compared to previous figure 229K Department of Labor 🇺🇸 Nonfarm Business Labor Productivity in Q1 below forecast and improved to -2.1% compared to previous figure -2.7% in Q4 Bureau of Labor Statistics
What can we expect from USDJPY today?
USDJPY on Thursday rose 0.39% to 139.84. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 139.3 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 139.95 or trades above daily pivot 139.62. While to the downside, the daily low of 139.08 and 139.3 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 139.95 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 | 141.04 |
| R2 | 140.5 |
| R1 | 140.17 |
| Daily Pivot | 139.62 |
| S1 | 139.3 |
| S2 | 138.75 |
| S3 | 138.42 |
You might be interested in:
Consumer Confidence Survey. Cabinet Office Preliminary Report on Petroleum Statistics (April 2023). Ministry of Economy, Trade and Industry Preliminary Report on Current Survey of Production (April 2023). Ministry of Economy, Trade and Industry Preliminary Report on Indices of Industrial Production (April 2023). Ministry of Economy, Trade and Industry Preliminary Report on the Current Survey of Commerce (April 2023). Ministry of Economy, Trade and Industry
Minutes of the Board’s discount rate meetings from April 10 through May 3, 2023. Federal Reserve (BOJ Review) Developments in and Characteristics of Japan’s FX Market: An Analysis Based on the 2022 BIS Triennial Central Bank Survey. Bank of Japan Trade Statistics (First 10 Days of May 2023 [Provisional]). Ministry of Finance
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