Economic Calendar
This week, the financial markets could react to a couple of United States macroeconomic events.
First of all, the publication of the US Final GDP data on Thursday at 12:30 GMT could cause a move via an adjustment of the USD value.
On Friday, the top event of the week will take place, as the US Core PCE Price Index is scheduled to be released. The PCE Price Index is the top inflation measurement.
USD/JPY hourly chart analysis
A move above 152.00 could encounter resistance in the weekly R1 simple pivot point at 152.56 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 levels. However, before that occurs, the 50 and 100-hour simple moving averages could keep the rate up. In addition, note the weekly simple pivot point at 150.73.
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
During late Monday's trading hours, trader open position volume showed that Dukascopy traders were 57% long.
Meanwhile, pending orders in the 100-point range around the rate were 57% to sell the USD/JPY.
On Friday, traders were 58% long and orders were 61% to sell.