USDJPY on Thursday dropped -0.4% to 143.97. Looking bearish. What we know.

USDJPY Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday-0.4%-58 Pips
Week to-date-0.2%-29.5 Pips
July-0.2%-29.5 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in May below forecast and dropped to 9.8M compared to previous figure 10.103M in April
🇺🇸 In the week ending 01 July, U.S. Initial Unemployment Insurance Claims rose to 248K compared to previous figure 236K (revised from 239K) Department of Labor
🇺🇸 U.S. Challenger Job Cuts in June dropped to 40.709K compared to previous figure 80.089K in May


USDJPY 4-hour Chart by TradingView

What can we expect from USDJPY today?

USDJPY on Thursday dropped -0.4% to 143.97. Price is below 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for USDJPY looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at 143.46 (S1) with break below could see further selling pressure towards 142.96 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 144.65 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 143.55 would indicate selling pressure.

For the week to-date, take note that USDJPY is mixed as compared to prior week.

Key levels to watch out:

R3145.66
R2145.16
R1144.56
Daily Pivot144.06
S1143.46
S2142.96
S3142.36

You might be interested in:

Trade Statistics (First 20 Days of June 2023 [Provisional]). Ministry of Finance
U.S. International Trade in Goods and Services. Census Bureau
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Minutes of the Federal Open Market Committee, June 13-14, 2023. Federal Reserve
Quarterly GDP bulletin. Cabinet Office
Tankan (June): Comprehensive Data Set. Bank of Japan

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