Economic Calendar
There are no more notable events scheduled for this week.
USD/JPY hourly chart analysis
A move above 152.00 could encounter resistance in the weekly R3 simple pivot point at 152.62 and the 152.50 mark. Higher above, other round price levels are highly likely going to act as resistance.On the other hand, a decline of the pair would look for support in the 151.00 and 150.50 level. In addition, note the combination of the weekly R2 simple pivot point and the 100-hour simple moving average near 158.90.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, note that the 152.00 level marks the 2022 high level.Daily chart
Read More: Technical Analysis
Traders are long
Before the Federal Reserve events, trader open position volume showed that Dukascopy traders were 63% long.
Meanwhile, pending orders in the 100-point range around the rate were 65% to sell the USD/JPY.
After the event, 59% were long and orders were 66% to sell. Some traders had already taken profits from the surge.
On Friday, traders were 58% long and orders were 61% to sell. These could be long positions with close by stop losses and orders to sell to open short positons.