USD/JPY reduces volatility

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Since Monday the USD/JPY pair has been fluctuating near the 110.00 mark. Despite the rate trading almost sideways it appears that the volatility of the currency exchange rate has been decreasing. Due to that reason a larger move up or down could be expected.

Economic Calendar



The week's notable events will start on Tuesday. At 12:30 GMT, the US statisticians are scheduled to publish the monthly Consumer Price Index and Core Consumer Price Index data.

On Thursday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data sets are set to be released to the public.

Note that at the same time the US Unemployment Claims are scheduled to be released.

Click on the link below to find out more about the data releases of this and other currency exchange rates.

USD/JPY short-term review

In the case of a potential surge, the rate would first test the resistance zone near the 110.25 level. However, the 110.25 zone acted as resistance mostly in August. In September, the rate passed the 110.25 twice and reached the 110.40 level.

Meanwhile, a decline of the pair would look for support in the 55-hour SMA, which has been acting as a support level since middle of Monday. A move below the SMA could reach for the September low levels near 109.60.

Hourly Chart

USD/JPY daily chart's review

On the daily candle chart, the rate has once again broken out of the squeeze between the 55 and 100-day simple moving averages. The rate had been trading between the two technical levels since August 19. However, there were two break outs form the range on August 24 and September 1.

Daily chart




Traders are short on USD/JPY

On Tuesday, traders on the Swiss Foreign Exchange were 68% short on USD/JPY.

Meanwhile, trader set up pending orders in the 100-pip range around the rate were 53% to sell.

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