USDJPY on Thursday rose 0.30% to 136.60. Buying interest. What we know.



Thursday
Open High Low Close
136.18 137.10 136.02 136.60
Performance after Thursday
Period Pct Chg Momentum
Thursday 0.30% 41.5 Pips
Week to-date 0.14% 19.1 Pips
February 5.00% 650.7 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD ISM Services PMI

What happened lately

📆 🇯🇵 JPY Tokyo CPI ex Fresh Food (YoY) in February below forecast and dropped to 3.3% compared to previous figure 4.3% in January. Source
📆 🇯🇵 JPY Tokyo Consumer Price Index (YoY) in February below forecast and dropped to 3.4% compared to previous figure 4.4% in January. Source
📆 🇯🇵 JPY Jobs / Applicants Ratio in January unchanged at 1.35 points compared to previous report in December. . Source
📆 🇯🇵 JPY Unemployment Rate in January below forecast and dropped to 2.4% compared to previous figure 2.5% in December. Source
📆 🇺🇸 USD Unit Labor Costs in Q4 exceed forecast and rose to 3.2% compared to previous figure 1.1% in Q3. Source
🇺🇸 📆 USD In the week ending 25 February, the Initial Jobless Claims dropped to 190K compared to previous figure 192K. Source
📆 ☢️ 🇺🇸 USD ISM Manufacturing PMI in February below forecast and rose to 47.7 points compared to previous figure 47.4 points in January. Source
📆 🇺🇸 USD S&P Global Manufacturing PMI in February below forecast and dropped to 47.3 points compared to previous figure 47.8 points in January. Source
📆 🇺🇸 USD Chicago Purchasing Managers’ Index in February below forecast and dropped to 43.6 points compared to previous figure 44.3 points in January. Source
📆 🇯🇵 JPY Retail Trade s.a (MoM) in January exceed forecast and rose to 1.9% compared to previous figure 1.1% in December. Source
📆 🇯🇵 JPY Industrial Production (YoY) in January preliminary estimate below forecast and improved to -2.3% compared to previous figure -2.4% in December. Source
📆 🇯🇵 JPY Large Retailer Sales in January exceed forecast and rose to 5.3% compared to previous figure 3.6% in December. Source
📆 🇯🇵 JPY Industrial Production (MoM) in January preliminary estimate exceed forecast and dropped to -4.6% compared to previous figure 0.3% in December. Source
📆 🇯🇵 JPY Retail Trade (YoY) in January exceed forecast and rose to 6.3% compared to previous figure 3.8% in December. Source


What can we expect from USDJPY today?

USDJPY on Thursday rose 0.30% to 136.60. Price is above 9-Day EMA while Stochastic is falling but in overbought zone.

Updated daily direction for USDJPY looks bullish as the pair ended higher after Thursday trading session.

Looking ahead for the day, immediate upside resistance level we are looking at 137.12 (R1) while on the downside, we are looking at daily low of 136.02 as an important support. Break below this level could weaken the current bullish momentum. USDJPY need to break on either side to indicate a short-term bias. A break above 137.10 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 0.14% and continued to trade higher in the past few days.

Key levels to watch out:

R3 138.20
R2 137.65
R1 137.12
Daily Pivot 136.57
S1 136.04
S2 135.49
S3 134.96

You might also be interested in:

Construction Spending Source: Census Bureau
Consumer Confidence Survey Source: Cabinet Office
Speech by Board Member TAMURA in Gunma on Feb. 22, 2023 (Economic Activity, Prices, and Monetary Policy in Japan) Source: Bank of Japan
Minutes of the Board’s discount rate meetings from January 23 and February 1, 2023 Source: Federal Reserve
Advance Retail Inventories Source: Census Bureau
Advance U.S. International Trade in Goods Source: Census Bureau
Advance Wholesale Inventories Source: Census Bureau
Preliminary Report on Petroleum Statistics (January 2023) Source: Ministry of Economy, Trade and Industry
Preliminary Report on Current Survey of Production (January 2023) Source: Ministry of Economy, Trade and Industry
Preliminary Report on Indices of Industrial Production (January 2023) Source: Ministry of Economy, Trade and Industry
Preliminary Report on the Current Survey of Commerce (January 2023) Source: Ministry of Economy, Trade and Industry
Speech by Deputy Governor WAKATABE at the CJEB, Columbia University on Feb. 27, 2023 (Seven Reflections on Japan’s Economy, Monetary Policy, and the Bank of Japan) Source: Bank of Japan

Last updated: 11:37 pm UTC, 02-Mar 2023

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