USDJPY on Thursday dropped -0.29% to 150.47. Looking bearish. What we know.
USDJPY Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.29% | -43.4 Pips |  | ||
| Week to-date | 0.58% | 87 Pips |  | ||
| November | -0.76% | -115.8 Pips |  | ||
Upcoming key events (London Time)
Fri 12:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 U.S. Factory Orders (1-mth) in September exceed forecast and rose to 2.8% compared to previous figure 1, revised from 1.2% in August Census Bureau 🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 preliminary estimate exceed forecast and rose to 4.7% compared to previous figure 3.5% in Q2 Bureau of Labor Statistics 🇺🇸 U.S. Challenger Job Cuts in October dropped to 36.836K compared to previous figure 47.457K in September 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Federal Reserve 🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in September exceed forecast and rose to 9.553M compared to previous figure 9.497, revised from 9.61M in August Bureau of Labor Statistics
What can we expect from USDJPY today?
USDJPY on Thursday dropped -0.29% to 150.47. Price is above 9-Day EMA while Stochastic is rising.
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 150 (S1) with break below could see further selling pressure towards 149.53 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 150.63 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 149.84 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:
| R3 | 151.57 |
| R2 | 151.1 |
| R1 | 150.78 |
| Daily Pivot | 150.31 |
| S1 | 150 |
| S2 | 149.53 |
| S3 | 149.21 |
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