USDJPY on Thursday rose 0.17% to 133.55. Pair in consolidation. What is going on.
|Performance after Thursday|
|Week to-date||-1.06%||-143 Pips|
Upcoming key events (London Time)
No further events
What happened lately
📆 🇺🇸 USD Philadelphia Fed Manufacturing Survey in March exceed forecast and improved to -23.2 points compared to previous figure -24.3 points in February. Source
📆 🇺🇸 USD Building Permits (1-mth) in February exceed forecast and rose to 1.524M compared to previous figure 1.339M in January. Source
📆 🇯🇵 JPY Merchandise Trade Balance Total in February exceed forecast and improved to -897.7¥ compared to previous figure -3498.6, revised from -3496.6¥ in January. Source
📆 ☢️ 🇺🇸 USD Retail Control Group in February exceed forecast and dropped to 0.5% compared to previous figure 2.3, revised from 1.7% in January. Source
📆 ☢️ 🇺🇸 USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.4% in January. Source
What can we expect from USDJPY today?
USDJPY on Thursday rose 0.17% to 133.55. Price is below 9-Day EMA while Stochastic is falling in neutral zone.
Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 132.24833 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 133.82 or trades above daily pivot 133.03667. While to the downside, the daily low of 131.74 and 132.24833 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 133.82 would suggest bullish bias after recent positive movement.
For the week to-date, take note that USDJPY is bearish as the pair posted lower by -1.06%.
Key levels to watch out:
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