USDJPY on Thursday rose 0.01% to 134.15. Pair in consolidation. What we know.

USDJPY by TradingView

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.01%	0.9 Pips
Week to-date	2.13%	279.9 Pips
February	3.12%	405.6 Pips

Upcoming key events (London Time)

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What happened lately

📆 🇺🇸 USD Philadelphia Fed Manufacturing Survey in February below forecast and dropped to -24.3 points compared to previous figure -8.9 points in January. Source
📆 🇯🇵 JPY Exports (YoY) in January exceed forecast and dropped to 3.5% compared to previous figure 11.5% in December. Source
📆 🇯🇵 JPY Imports (YoY) in January below forecast and dropped to 17.8% compared to previous figure 20.7, revised from 20.6% in December. Source
📆 ☢️ 🇺🇸 USD Retail Sales Control Group in January exceed forecast and rose to 1.7% compared to previous figure -0.7% in December. Source
📆 ☢️ 🇺🇸 USD Consumer Price Index ex Food & Energy (YoY) in January exceed forecast and dropped to 5.6% compared to previous figure 5.7% in December. Source
📆 🇯🇵 JPY Industrial Production (YoY) in December below forecast and improved to -2.4% compared to previous figure -2.8% in November. Source
📆 🇯🇵 JPY Gross Domestic Product Annualized in Q4 preliminary estimate below forecast and rose to 0.6% compared to previous figure -0.8% in Q3. Source

What can we expect from USDJPY today?

USDJPY on Thursday rose 0.01% to 134.15. Price is above 9-Day EMA while Stochastic is rising but in overbought zone.

Updated daily direction for USDJPY looks mixed as the pair is likely to consolidate above 133.66 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 134.46 or trades above daily pivot 134.06 while to the downside, the daily low of 133.58 and 133.66 (S1) as key support levels. USDJPY need to break on either side to indicate a short-term bias. A break above 134.46 would suggest bullish bias after recent positive movement.

For the week to-date, take note that USDJPY is bullish as the pair is up by 2.13% and continued to trade higher in the past few days.

Key levels to watch out:

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Last updated: 11:39 pm UTC, 16-Feb 2023

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