Economic Calendar
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
An extension of the ongoing decline is expected to look for support in the 146.65/147.10 range. Further below, the 146.00 level might stop the decline.In the case of a USD recovery, watch the weekly S2 simple pivot point at 148.40 and the 148.50/149.00 range.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the USD/JPY has dropped below prior 2024 high level range and the 50-day simple moving average. However, support has been found in the 1998 high level at 147.60. This level continues to impact the rate.A move below the 1998 level could look for support in the 100 and 200-hour simple moving averages at 147.00.
Daily chart
Read More: Technical Analysis
Traders are slightly short
Since Monday, trader open position volume showed that Dukascopy traders were 53% short.
Meanwhile, pending orders in the 100-point range around the rate were 53% to buy the USD/JPY.