USDJPY on Friday rose 0.05% to 149.83000. Week ending 2023-10-20 rose 0.21%. . What’s going on.
USDJPY Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.05% | 7.5 Pips |  | ||
| Week 2023-10-20 | 0.21% | 31.6 Pips |  | ||
| October | 0.34% | 50.1 Pips | | ||
Upcoming key events for the new week (London Time)
Thu 01:30 PM Initial Unemployment Insurance Claims 
Thu 01:30 PM GDP Annualized
Fri 12:30 AM Tokyo CPI (Inflation Rate) (12-mth) Fri 01:30 PM Personal Consumption Expenditures Price Index (1-mth) Fri 01:30 PM Personal Consumption Expenditures Price Index (12-mth)
What happened over the week
🇺🇸 In the week ending 14 October, U.S. Initial Unemployment Insurance Claims dropped to 198K compared to previous figure 209K Source: Department of Labor
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in October exceed forecast and improved to -9 points compared to previous figure -13.5 points in September
🇺🇸 U.S. Building Permits (1-mth) in September dropped to 1.475M compared to previous figure 1.541M (revised from 1.543M) Source: Census Bureau
🇺🇸 U.S. Monthly Retail Trade (1-mth) in September exceed forecast and dropped to 0.7% compared to previous figure 0.8, revised from 0.6% in August Source: Census Bureau
🇺🇸 U.S. New York Empire State Manufacturing Index in October below forecast and dropped to -4.6 points compared to previous figure 1.9 points in September
From X (Twitter)
＜令和5年度上半期分速報の概要＞
輸出は、対前年同期比1.4%の増加、輸入は、同12.4%の減少となり、差引額は2兆7,184億円の赤字となりました。 pic.twitter.com/91iJaEXbjM— 財務省 (@MOF_Japan) October 19, 2023
What can we expect from USDJPY for the new week and what happened on Friday?
USDJPY on Friday rose 0.05% to 149.83. Price is above 9-Day EMA while Stochastic is rising in overbought zone. For the week ending 2023-10-20, the pair rose 0.21% or 31.6 pips higher.
Looking ahead on Monday, USDJPY looks mixed as the pair is likely to consolidate above week low of 148.74.
As for the new week, our technical outlook looks bullish, immediate upside resistance level at 150.30 (WR1) with break above could target 150.78 (WR2). On the downside, we are looking at week low of 148.74 as an important support. Break below this level could weaken the current bullish momentum. A break above 149.99 would suggest bullish bias after recent positive movement.
For the month of October, USDJPY is up by 0.34% or 50.1 pips higher.
Weekly key levels to watch out:
| R3 | 151.56 |
| R2 | 150.78 |
| R1 | 150.30 |
| Weekly Pivot | 149.52 |
| S1 | 149.05 |
| S2 | 148.27 |
| S3 | 147.79 |
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