Economic Calendar
This week, there are no notable pre-scheduled events that might impact the currency exchange rate.
Some financial news outlets note the upcoming "speech" of Jerome Powell on Thursday at 19:00 GMT. However, the head of the central bank is set to participate in a panel discussion at a research conference not give a speech. It is not normal for the head of the Fed to make notable comments at such minor events.
USD/JPY hourly chart analysis
The currency pair could soon test the combined resistance of the weekly R1 simple pivot point at 151.09 and the 151.00 mark. Higher above, note that the 151.50 level might slow down a surge to the resistance range at 151.65/151.70.In the meantime, it is possible that the rate once again returns to the 150.00 mark. In this case scenario support could be found in the 50, 100 and 200-hour simple moving averages near 150.10/150.30.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate has additional support from the ascending 50-day simple moving average, which has reached 149.00. Meanwhile, note the marked 2022 high level at 152.00.Daily chart
Read More: Technical Analysis
Traders are shorting
This week, traders were bullish on USD/JPY, as 57% of open positions on the Swiss Foreign Exchange were long.
Meanwhile, trader pending orders in the 100-point range around the current exchange rate were 55% to sell.