USDJPY Analysis
| Performance after Thursday | |||
| Period | Pct | Chg | Momentum |
| Thursday | 0.46% | 74.0 Pips | ▲ |
| Week to-date | 0.26% | 42.0 Pips | ▲ |
| June | 0.86% | 137.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Fri 01:00 PM | USD | NONE | Juneteenth Freedom Day |
What happened lately
The USDJPY pair experienced an upward movement on Thursday, closing with a 0.46% increase at 161.37000. The day’s trading saw the pair reach a high of 161.80000 and a low of 160.46000.
The only significant economic release from the previous trading day was the Federal Reserve’s interest rate decision, which maintained the Federal Funds Rate at 3.75%. This decision was in line with both the consensus and the previous rate, indicating no change in the monetary policy stance.
Looking ahead, there are no high-impact economic events scheduled that could influence the USDJPY pair in the immediate future. The upcoming Juneteenth Freedom Day on Friday is noted, but it is not expected to have any impact on the currency markets.
Overall, the USDJPY’s rise on Thursday occurred in the context of a stable interest rate environment as indicated by the Federal Reserve’s decision. The market sentiment appears to be cautiously optimistic, with traders possibly positioning themselves based on expectations of future economic conditions. However, without additional economic data or events, the precise drivers behind the currency pair’s movement remain unclear.
What can we expect from USDJPY today?
USDJPY has shown a bullish daily performance with a 0.46% increase, closing at 161.37000. The pair remains above its 9-day EMA, suggesting continued upward momentum in the short term.
If the bullish trend continues, USDJPY could test the first resistance level at 161.96. A break above this level may lead to further gains towards the second resistance at 162.55. The daily outlook remains bullish, supporting potential upward movement.
Conversely, a bearish scenario could unfold if USDJPY fails to maintain its current levels and drops below the daily pivot of 161.21. In this case, traders should watch for a decline towards the first support level at 160.62, with further downside potential to the second support at 159.87 if selling pressure intensifies.
📈 Bull Scenario Watch resistance levels R1 and R2 for bullish continuation. | 📉 Bear Scenario Watch support levels S1 and S2 for bearish breakdown. |
Key levels to watch out:
| R3 | 163.3 |
| R2 | 162.55 |
| R1 | 161.96 |
| Daily Pivot | 161.21 |
| S1 | 160.62 |
| S2 | 159.87 |
| S3 | 159.28 |