USDJPY on Thursday dropped -0.41% to 145.65. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Thursday
Thursday-0.41%-60.2 Pips
Week to-date0.49%71.6 Pips
August2.39%339.6 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%)

USDJPY 4-hour Chart by TradingView

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:

Daily Pivot145.94

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Report on Indices of Tertiary Industry Activity (June 2023). Ministry of Economy, Trade and Industry
Machinery Orders. Cabinet Office
Trade Statistics (July 2023 [Provisional]). Ministry of Finance
Minutes of the Federal Open Market Committee, July 25-26, 2023. Federal Reserve
New Residential Construction. Census Bureau
Manufacturing and Trade Inventories and Sales. Census Bureau
The Time Series Data on Current Production Statistics. Ministry of Economy, Trade and Industry
Advanced Monthly Sales for Retail and Food Services. Census Bureau
Monthly Report of Current Production Statistics (June 2023). Ministry of Economy, Trade and Industry
Revised Report on Indices of Industrial Production (June 2023). Ministry of Economy, Trade and Industry
Monthly Report on the Current Survey of Commerce (June 2023). Ministry of Economy, Trade and Industry
Quarterly GDP bulletin. Cabinet Office

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