USDJPY on Thursday rose 0.04% to 149.60. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.04%6.7 Pips
Week to-date0.03%3.8 Pips
November-1.34%-202.7 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇯🇵 Japan National CPI Inflation Rate (12-mth) in October exceed forecast and rose to 3.3% compared to previous figure 3% in September Statistics Bureau of Japan
🇯🇵 Japan National CPI Inflation Rate excluding Fresh Food (12-mth) in October below forecast and rose to 2.9% compared to previous figure 2.8% in September Statistics Bureau of Japan
🇯🇵 Japan National CPI Inflation Rate excluding Food and Energy (12-mth) in October below forecast and dropped to 4% compared to previous figure 4.2% in September Statistics Bureau of Japan
🇺🇸 U.S. Michigan Index of Consumer Sentiment in November exceed forecast and rose to 61.3 points compared to previous figure 60.4 points in October University of Michigan
🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in November unchanged at 3.2% compared to previous report in October. The actual figure is also in line with the forecast University of Michigan
🇺🇸 U.S. Durable Goods Orders in October exceed forecast and dropped to -5.4% compared to previous figure 4.6, revised from 4.7% in September Census Bureau

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What can we expect from USDJPY today?

USDJPY on Thursday rose 0.04% to 149.60. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 149.09 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 149.69 or trades above daily pivot 149.39. While to the downside, the daily low of 148.88 and 149.09 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 149.69 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is mixed as compared to prior week.

Key levels to watch out:

R3150.71
R2150.2
R1149.9
Daily Pivot149.39
S1149.09
S2148.58
S3148.28

You might be interested in:

Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve

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