Economic Calendar
Next week should not bring any unexpected volatility, considering that the importance of economic events in Japan is not crucial.
USD/JPY 4 hour chart analysis
A reversal could possibly be seen towards the Fibonacci 61.80% or 50.00% level. The 100-period and 200-period simple moving averages are within the mentioned ranges, thus increasing the probability that the future resistance level lies within the range of 152.71 to 153.396.A total rejection of the possible reversal would have significant implications, suggesting that a downtrend channel may form, with the price potentially falling below 148.87.
4 Hourly Chart
USD/JPY 30 minute chart analysis
In the current market environment, the USD/JPY currency pair offers enough price volatility within the currency pair to create potential trade structures on shorter time frames. A move of more than 220 pips presents the possibility of outsized returns. The 48-period RSI (24-hour) suggests normalized supply and demand activities within the currency pair.
Read More: Technical Analysis
Traders are sitting in long positions
At the current moment 64.44% are long and 35.56% are short
Meanwhile, pending orders in the 200-point range around the rate were 65% to buy.
Notably, no significant sentiment changes are being seen in JPY against other major currencies.
Meanwhile, pending orders in the 200-point range around the rate were 65% to buy.
Notably, no significant sentiment changes are being seen in JPY against other major currencies.