USDJPY on Friday rose 0.31% to 148.12. Week ending 2024-01-26 moved lower by -0.01%. What happened.

USDJPY Analysis

Performance
PeriodPctChgMomentum
Friday0.31%46 Pips
Week 2024-01-26-0.01%-1 Pips
January5.05%712 Pips

Upcoming key events for the new week (London Time)

Wed 07:00 PM Fed Interest Rate Decision (Federal Funds Rate)
Thu 01:30 PM Initial Unemployment Insurance Claims
Fri 01:30 PM Nonfarm Payroll Employment

What happened over the week

🇺🇸 U.S. Personal Consumption Expenditures – Price Index (12-mth) in December unchanged at 2.6% compared to previous report in November. The actual figure is also in line with the forecast
🇯🇵 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
🇺🇸 In the week ending 20 January, U.S. Initial Unemployment Insurance Claims rose to 214K compared to previous figure 189K (revised from 187K) Source: Department of Labor
🇺🇸 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
🇯🇵 Japan Bank of Japan Short-Term Policy Interest Rate unchanged at -0.1% compared to previous rate -0.1% Source: Bank of Japan

From X (Twitter)


What can we expect from USDJPY for the new week and what happened on Friday?

USDJPY on Friday rose 0.31% to 148.12. Price is above 9-Day EMA while Stochastic is falling. For the week ending 2024-01-26, the pair dropped -0.01% or -1 pips lower.

Looking ahead on Monday, USDJPY looks bullish as the pair ended higher after Friday trading session.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 148.70 or at least consolidates above Weekly Pivot level of 147.82. On the downside, we are looking at week low 146.64 or 146.94 (WS1) as immediate support level. USDJPY need to break on either side to indicate a short-term bias. A close below week low of 146.64 would indicate selling pressure.

For the month of January, USDJPY is up by 5.05% or 712 pips higher.

Weekly key levels to watch out:

R3151.05
R2149.87
R1148.99
Weekly Pivot147.82
S1146.94
S2145.77
S3144.89

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