USDJPY on Thursday dropped -0.48% to 145.05. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday-0.48%-70.2 Pips
Week to-date0.31%45 Pips
January2.88%405.5 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate (12-mth) in December exceed forecast and rose to 3.4% compared to previous figure 3.1% in November Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (1-mth) in December exceed forecast and rose to 0.3% compared to previous figure 0.1% in November Source: Bureau of Labor Statistics
🇺🇸 In the week ending 06 January, U.S. Initial Unemployment Insurance Claims dropped to 202K compared to previous figure 203K (revised from 202K) Source: Department of Labor
🇯🇵 Japan Labor Cash Earnings (12-mth) in November below forecast and dropped to 0.2% compared to previous figure 1.5% in October

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What can we expect from USDJPY today?

USDJPY on Thursday dropped -0.48% to 145.05. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 144.54 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 146.41 or trades above daily pivot 145.48. While to the downside, the daily low of 144.97 and 144.54 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 144.97 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:

R3147.44
R2146.93
R1145.99
Daily Pivot145.48
S1144.54
S2144.03
S3143.1

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