On Friday, the USD/JPY currency exchange rate retreated to trade below the technical levels that surrounded the 104.20 level.
In the near term future, the rate was expected to continue to decline, as it had no support as low as 103.70.
Economic Calendar
Next week, on Tuesday, the currency exchange rate could be impacted by the 15:00 GMT publication of the US ISM Manufacturing PMI. The pair has moved from 5.5 to 27.7 pips on the release since July.
On Wednesday and Thursday, the markets are unlikely going to be impacted by macroeconomic data releases. On those days the ADP Non-Farm Employment Change, US Unemployment Claims and the US ISM Non-Manufacturing PMI are set to be published. All of these releases have not caused increases of USD volatility despite being discussed by the financial media.
On Friday, the US will publish monthly employment data. Namely, the Unemployment Rate, Non-Farm Employment Change and the Average Hourly Earnings. The rate has moved from 10.4 to 26.3 pips on the announcement.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
USD/JPY short-term daily review
On Friday morning, the USD/JPY currency exchange rate passed the support levels near 104.20. Due to that reason, the pair had no technical support as low as the 103.32 level. In theory, the rate should decline to this mark.However, take into account that the Monday's low level could provide support.
Hourly Chart
On the daily candle chart, one can observe that the rate is resuming its decline after retracing back up.
Daily chart
On Friday, on the Swiss Foreign Exchange 65% of volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 69% to buy the pair.