USDJPY on Thursday rose 0.04% to 147.55. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.04%5.7 Pips
Week to-date-0.39%-57.7 Pips
January4.65%655.3 Pips

Upcoming key events (London Time)

Thu 11:30 PM JPY Tokyo CPI (Inflation Rate) (12-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇯🇵 Japan Tokyo CPI excluding fresh food and energy (12-mth) in January below forecast and dropped to 3.1% compared to previous figure 3.5% in December Source: Statistics Bureau of Japan
🇯🇵 Japan Tokyo CPI excluding fresh food (12-mth) in January below forecast and dropped to 1.6% compared to previous figure 2.1% in December Source: Statistics Bureau of Japan
🇯🇵 Japan Tokyo CPI (Inflation Rate) (12-mth) in January below forecast and dropped to 1.6% compared to previous figure 2.4% in December Source: Statistics Bureau of Japan
🇺🇸 U.S. Gross Domestic Product Price Index in Q4 preliminary estimate below forecast and dropped to 1.5% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 preliminary estimate unchanged at 2% compared to previous report in Q3. The actual figure is also in line with the forecast Source: Bureau of Economic Analysis
🇺🇸 U.S. Durable Goods Orders excluding Transportation in December exceed forecast and rose to 0.6% compared to previous figure 0.4, revised from 0.5% in November Source: Census Bureau
🇯🇵 Japan Merchandise Trade Balance Total in December rose to 62.1¥ compared to previous figure -780.4¥ (revised from -776.9¥) Source: Ministry of Finance Japan
🇯🇵 Japan Imports (12-mth) in December exceed forecast and improved to -6.8% compared to previous figure -11.9% in November Source: Ministry of Finance Japan
🇯🇵 Japan Exports (12-mth) in December exceed forecast and rose to 9.8% compared to previous figure -0.2% in November Source: Ministry of Finance Japan

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What can we expect from USDJPY today?

USDJPY on Thursday rose 0.04% to 147.55. 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 147.1 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 147.96 or trades above daily pivot 147.53. While to the downside, the daily low of 147.08 and 147.1 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 147.96 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:

R3148.86
R2148.41
R1147.98
Daily Pivot147.53
S1147.1
S2146.65
S3146.22

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