USDJPY on Thursday dropped -0.24% to 150.10. End February up by 2.19% or 321.6 pips higher. Looking bearish. What we know.

USDJPY Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday-0.24%-35.4 Pips
Week to-date-0.24%-36.8 Pips
February2.19%321.6 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Personal Consumption Expenditures – Price Index (1-mth) in January rose to 0.3% compared to previous figure 0.2% in December
🇺🇸 U.S. Personal Income (1-mth) in January rose to 1% compared to previous figure 0.3% in December Source: Bureau of Economic Analysis
🇯🇵 Japan Large Retailer Sales in January unchanged at 3% compared to previous report in December. Source: METI
🇯🇵 Japan Retail Trade seasonal adjustment (1-mth) in January rose to 0.8% compared to previous figure -0.8% in December Source: METI
🇯🇵 Japan Retail Trade (12-mth) in January dropped to 2.3% compared to previous figure 2.4, revised from 2.1% in December Source: METI
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis

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What can we expect from USDJPY today?

USDJPY on Thursday dropped -0.24% to 150.10. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDJPY looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at 149.32 (S1) with break below could see further selling pressure towards 148.53 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 150.66 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 149.20 would indicate selling pressure.

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

USDJPY ended month of February trading session up by 2.19% or 321.6 pips higher.

Key levels to watch out:

R3152.23
R2151.44
R1150.77
Daily Pivot149.99
S1149.32
S2148.53
S3147.86

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