The USD/JPY currency exchange rate almost touched the 115.00 mark before a retracement back down started. By the middle of Wednesday's GMT trading hours, the pair had returned to the 114.65/114.70 zone, which is the October high zone.
Economic Calendar
On Thursday, note that a minor USD move could be caused by the weekly US Unemployment Claims. The pair has moved from 9.0 to 28.5 pips at the time of the claims.
However, on November 10, the move of 28.5 pips was caused actually by the US CPI. Without the November 10 release, the movement range is 9.0 to 12.2 pips.
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USD/JPY short-term review
If the 114.65/114.70 zone provides the USD/JPY pair with enough support, the rate could make another attempt at passing the resistance of the 115.00 mark. Above the 115.00 level, the weekly R2 simple pivot point provides resistance at 115.23.Meanwhile, a passing below the 114.65/114.70 support would immediately encounter additional technical support levels. Namely, the weekly R1 simple pivot point is located at 114.58, the 50-hour simple moving average is at 114.43. In addition the lower trend line of a channel up pattern was located near 114.50.
Hourly Chart
USD/JPY daily chart's review
The USD/JPY currency exchange rate has passed the resistance of the 2017 and 2018 high level zone. The rate has not been this high since March 2017.Meanwhile, a channel up pattern has been added to the chart. The pair has been guided up by the pattern since September.
Daily chart
On Wednesday, on the Swiss Foreign Exchange, traders were short, as 70% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 55% to buy.