USDJPY Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.22% | 32.2 Pips |  |
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| Week to-date | 0.49% | 70.5 Pips | |
||
| June | 3.63% | 506.1 Pips |  |
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Upcoming key events (London Time)
Thu 07:30 AM USD Federal Reserve Chair Jerome Powell speech Thu 01:30 PM USD GDP Annualized
What happened lately
🇺🇸 U.S. New Residential Sales (1-mth) in May exceed forecast and rose to 0.763M compared to previous figure 0.68, revised from 0.683M in April Census Bureau 🇺🇸 U.S. Housing Price Index (1-mth) in April exceed forecast and rose to 0.7% compared to previous figure 0.5, revised from 0.6% in March 🇺🇸 U.S. Durable Goods Orders excluding Transportation in May rose to 0.6% compared to previous figure -0.6% (revised from -0.2%) Census Bureau
What can we expect from USDJPY today?
USDJPY on Wednesday rose 0.22% to 144.36. 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 Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 144.74 with break above could target R2 at 145.12. While towards the downside, we are looking at daily low of 143.73 as an important support. Break below this level could weaken the current bullish momentum. A break above 144.62 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 0.49% over the past few days.
Key levels to watch out:
| R3 | 145.63 |
| R2 | 145.12 |
| R1 | 144.74 |
| Daily Pivot | 144.23 |
| S1 | 143.85 |
| S2 | 143.35 |
| S3 | 142.96 |
You might be interested in:
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 Summary of Opinions at the Monetary Policy Meeting on June 15 and 16, 2023. Bank of Japan
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