USDJPY on Thursday dropped -0.41% to 145.65. Pair in consolidation. What we know.
|Performance after Thursday|
|Week to-date||0.49%||71.6 Pips|
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 In the week ending 12 August, U.S. Initial Unemployment Insurance Claims dropped to 239K compared to previous figure 250K (revised upward from 248K) Department of Labor
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in August exceed forecast and rose to 12 points compared to previous figure -13.5 points in July
🇺🇸 U.S. Industrial Production (1-mth) in July rose to 1% compared to previous figure -0.8% (revised from -0.5%)
What can we expect from USDJPY today?
USDJPY on Thursday dropped -0.41% to 145.65. 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 145.32 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 146.56 or trades above daily pivot 145.94. While to the downside, the daily low of 145.62 and 145.32 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 145.62 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 0.49% over the past few days.
Key levels to watch out:
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