Economic Calendar
During the week, noteworthy events start on Tuesday at 15:00 GMT, as at that time the US Institute for Supply Management Services sector Purchasing Managers Index is set to be released.
On Wednesday, at 13:15 GMT the US ADP Non-Farm Employment Change could impact the markets by revealing surprise information about the US job market. In addition, on the same day at 15:00 GMT, the JOLTS Job Opening data will show, how many jobs are open. The data indicates, how active the economy is.
Top event of the week is scheduled for Friday at 13:30 GMT. The United States employment data sets are going to impact the financial markets. The release consists of Average Hourly Earnings change, Non-Farm Employment Change and the Unemployment Rate.
USD/JPY hourly chart analysis
On Monday, the pair was observed to be once again approaching the 150.65/150.90 range and the weekly R1 simple pivot point at 150.87. In general, a move above this range could immediately stop at the 151.00 level.However, if the US Dollar declines against the Yen, note that the 50, 100 and 200-hour simple moving averages might slow down a potential drop, before the rate reaches the 150.00 mark and the weekly simple pivot point at 150.04. Further below, the 149.85/149.95 range might once again come into play.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the USD/JPY has managed to break the previous 2024 high level range. It appears to have found support in the 1998 high level of 147.60.However, since these events the pair has fluctuated sideways around the 150.00 mark. During the sideways trading, the rate has passed below the lower trend line of the channel up pattern that captures the 2024 surge.
Daily chart
On Friday, trader open position volume showed that Dukascopy traders were 54% short.
Meanwhile, pending orders in the 100-point range around the rate were 51% to buy the USD/JPY.
On Monday, positions were 53% short and orders were 51% to buy.