USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.56% | 82.3 Pips |  |
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| Week to-date | -0.9% | -134.5 Pips |  |
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| November | -2.35% | -356.9 Pips | |
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Upcoming key events (London Time)
Fri 04:00 PM USD Federal Reserve Chair Jerome Powell speech
What happened lately
🇯🇵 Japan Unemployment Rate in October below forecast and dropped to 2.5% compared to previous figure 2.6% in September Source: Statistics Bureau of Japan 🇺🇸 U.S. Personal Spending in October dropped to 0.2% compared to previous figure 0.7% in September Source: Bureau of Economic Analysis 🇺🇸 In the week ending 25 November, U.S. Initial Unemployment Insurance Claims rose to 218K compared to previous figure 211K (revised from 209K) Source: Department of Labor 🇯🇵 Japan Retail Trade seasonal adjustment (1-mth) in October exceed forecast and dropped to -1.6% compared to previous figure -0.1% in September Source: METI 🇯🇵 Japan Retail Trade (12-mth) in October below forecast and dropped to 4.2% compared to previous figure 6.2, revised from 5.8% in September Source: METI
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What can we expect from USDJPY today?
USDJPY on Thursday rose 0.56% to 148.06. Price is below 9-Day EMA while Stochastic is falling.
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 148.77 with break above could target R2 at 149.47. While towards the downside, we are looking at daily low of 146.86 as an important support. Break below this level could weaken the current bullish momentum. A break above 148.52 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDJPY is mixed as compared to prior week.
USDJPY ended month of November trading session down by -2.35% or -356.9 pips lower.
Key levels to watch out:
| R3 | 150.43 |
| R2 | 149.47 |
| R1 | 148.77 |
| Daily Pivot | 147.81 |
| S1 | 147.11 |
| S2 | 146.15 |
| S3 | 145.45 |
