USDJPY on Thursday dropped -0.06% to 148.07. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday-0.06%-8.6 Pips
Week to-date2.18%316.5 Pips
January5.01%707.1 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇯🇵 Japan National CPI Inflation Rate (12-mth) in December exceed forecast and dropped to 2.6% compared to previous figure 2.8% in November Source: Statistics Bureau of Japan
🇯🇵 Japan National CPI Inflation Rate excluding Food and Energy (12-mth) in December below forecast and dropped to 3.7% compared to previous figure 3.8% in November Source: Statistics Bureau of Japan
🇯🇵 Japan National CPI Inflation Rate excluding Fresh Food (12-mth) in December dropped to 2.3% compared to previous figure 2.5% in November Source: Statistics Bureau of Japan
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in January below forecast and improved to -10.6 points compared to previous figure -12.8, revised from -10.5 points in December
🇺🇸 U.S. Industrial Production (1-mth) in December rose to 0.1% compared to previous figure 0.2%
🇺🇸 U.S. Monthly Retail Trade excluding Automobile (1-mth) in December exceed forecast and rose to 0.4% compared to previous figure 0.2% in November

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What can we expect from USDJPY today?

USDJPY on Thursday dropped -0.06% to 148.07. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 147.71 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 148.30 or trades above daily pivot 148.01. While to the downside, the daily low of 147.65 and 147.71 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A close below 147.65 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 2.18% over the past few days.

Key levels to watch out:

R3149.01
R2148.66
R1148.36
Daily Pivot148.01
S1147.71
S2147.36
S3147.06

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