USDJPY on Thursday rose 0.9% to 143.10. What we know.

USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.9%	127.499 Pips
Week to-date	0.9%	127 Pips
June	2.73%	379.6 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Chicago Fed National Activity Index in May below forecast and dropped to -0.15 points compared to previous figure 0.07 points in April

What can we expect from USDJPY today?

USDJPY on Thursday rose 0.9% to 143.10. Price is above 9-Day EMA while Stochastic is falling 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 143.68 with break above could target R2 at 144.26. While towards the downside, we are looking at daily low of 141.61 as an important support. Break below this level could weaken the current bullish momentum. A break above 143.23 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 0.9% over the past few days.

Key levels to watch out:

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Powell, Semiannual Monetary Policy Report to the Congress. Federal Reserve
The Time Series Data on Current Production Statistics. Ministry of Economy, Trade and Industry
Minutes of the Monetary Policy Meeting on April 27 and 28, 2023. Bank of Japan
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New Residential Construction. Census Bureau
Monthly Report of Current Production Statistics (April 2023). Ministry of Economy, Trade and Industry
Revised Report on Indices of Industrial Production (April 2023). Ministry of Economy, Trade and Industry

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