Economic Calendar
Moderate levels of volatility may be anticipated this week.
USD/JPY hourly chart analysis
145.00 resistance level may be tested in the short term. Further break trough towards 146.00 could be considered as a plausible scenario. If there is no forward move towards 146.00 resistance level, bearish move towards 142.0000 could be in the play in the short term.Hourly Chart
USD/JPY daily candle chart analysis
The descending channel pattern has been breached, signaling a potential shift in market sentiment for the FX pair. This breakout suggests that the prolonged downtrend may be losing momentum, and a possible trend reversal could be underway. A confirmed break above the upper boundary of the channel often indicates that buyers are gaining strength and that selling pressure is weakening.
Read More: Technical Analysis
Traders sentiment mixed
Continuing previous week, traders' sentiment is mixed, with
long positions making up the majority at 51%, while 49% represent the short
side. No significant bias related to USD/JPY has occurred.