USDJPY on Friday rose 0.1% to 150.12. Week ending 2024-03-01 moved lower by -0.23%. What happened.

USDJPY Analysis

Performance
PeriodPctChgMomentum
Friday0.1%14.9 Pips
Week 2024-03-01-0.23%-35.3 Pips
March0.1%14.9 Pips

Upcoming key events for the new week (London Time)

Mon 11:30 PM Tokyo CPI excluding fresh food and energy (12-mth)
Mon 11:30 PM Tokyo CPI (Inflation Rate) (12-mth)
Thu 01:30 PM Initial Unemployment Insurance Claims
Thu 03:00 PM Federal Reserve Chair Jerome Powell testifies
Fri 01:30 PM Nonfarm Payroll Employment

What happened over the week

🇺🇸 U.S. Michigan Index of Consumer Sentiment in February dropped to 76.9 points compared to previous figure 79.6 points in January Source: University of Michigan
🇯🇵 Japan Unemployment Rate in January dropped to 2.4% compared to previous figure 2.5% (revised from 2.4%) Source: Statistics Bureau of Japan
🇺🇸 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
🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December Source: Census Bureau
🇯🇵 Japan National CPI Inflation Rate (12-mth) in January dropped to 2.2% compared to previous figure 2.6% in December Source: Statistics Bureau of Japan
🇯🇵 Japan National CPI Inflation Rate excluding Fresh Food (12-mth) in January dropped to 2% compared to previous figure 2.3% in December Source: Statistics Bureau of Japan
🇯🇵 Japan National CPI Inflation Rate excluding Food and Energy (12-mth) in January dropped to 3.5% compared to previous figure 3.7% in December Source: Statistics Bureau of Japan

From X (Twitter)


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

USDJPY on Friday rose 0.1% to 150.12. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2024-03-01, the pair dropped -0.23% or -35.3 pips lower.

Looking ahead on Monday, USDJPY looks mixed as the pair is likely to consolidate above week low of 149.20.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 150.84 or at least consolidates above Weekly Pivot level of 150.06. On the downside, we are looking at week low 149.20 or 149.27 (WS1) as immediate support level. USDJPY need to break on either side to indicate a short-term bias. A close below week low of 149.20 would indicate selling pressure.

For the month of March, USDJPY is up by 0.1% or 14.9 pips higher.

Weekly key levels to watch out:

R3152.55
R2151.70
R1150.91
Weekly Pivot150.06
S1149.27
S2148.42
S3147.63

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