USDJPY Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.5%	-71.2 Pips
Week to-date	1.02%	143.6 Pips
August	0.23%	32.6 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in June exceed forecast and rose to 2.3% compared to previous figure 0.4, revised from 0.3% in May Census Bureau
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q2 preliminary estimate rose to 3.7% compared to previous figure -1.2% (revised from -2.1%) Bureau of Labor Statistics
🇺🇸 U.S. ADP Non-Farm Employment Change in July exceed forecast and dropped to 324K compared to previous figure 497K in June

What can we expect from USDJPY today?

USDJPY on Thursday dropped -0.5% to 142.58. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 141.79 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 143.89 or trades above daily pivot 142.84. While to the downside, the daily low of 142.06 and 141.79 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 142.06 would indicate selling pressure.

For the week to-date, take note that USDJPY is bullish as the pair continued to trade higher and is up by 1.02% over the past few days.

Key levels to watch out:

You might be interested in:

Housing Vacancies and Homeownership. Census Bureau
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Construction Spending. Census Bureau
Speech by Deputy Governor UCHIDA in Chiba (Japan’s Economy and Monetary Policy). Bank of Japan
Minutes of the Monetary Policy Meeting on June 15 and 16, 2023. Bank of Japan