USDJPY on Thursday rose 0.31% to 151.66. Pair in consolidation. What we know.

USDJPY Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.31%46.2 Pips
Week to-date1.76%261.6 Pips
March1.12%167.8 Pips

Upcoming key events (London Time)

Fri 01:00 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in March dropped to 3.2 points compared to previous figure 5.2 points in February
🇯🇵 Japan Imports (12-mth) in February rose to 0.5% compared to previous figure -9.8, revised from -9.6% in January Source: Ministry of Finance Japan
🇯🇵 Japan Merchandise Trade Balance Total in February rose to -379.4¥ compared to previous figure -1760.3¥ (revised from -1758.3¥) Source: Ministry of Finance Japan
🇯🇵 Japan Exports (12-mth) in February dropped to 7.8% compared to previous figure 11.9% in January Source: Ministry of Finance Japan
🇺🇸 U.S. Interest Rate Projections – 2nd year dropped to 3.1% compared to previous rate 3.6%
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Interest Rate Projections – Longer rose to 2.6% compared to previous rate 2.5%
🇺🇸 U.S. Interest Rate Projections – 1st year below forecast and dropped to 3.9% compared to previous rate 4.6%
🇺🇸 U.S. Interest Rate Projections dropped to 4.6% compared to previous rate 5.4%

Latest from X (Twitter)


What can we expect from USDJPY today?

USDJPY on Thursday rose 0.31% to 151.66. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 150.69 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 151.75 or trades above daily pivot 151.22. While to the downside, the daily low of 150.26 and 150.69 (S1) as immediate support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 151.75 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is bullish as the pair continued to trade higher and is up by 1.76% over the past few days.

Key levels to watch out:

R3153.68
R2152.72
R1152.19
Daily Pivot151.22
S1150.69
S2149.73
S3149.2

Leave a comment

Your email address will not be published. Required fields are marked *