Economic Calendar
On Thursday, a minor USD move could occur due to the weekly US Unemployment claims release at 13:30 GMT. The USD/JPY has moved from 4.7 to 28.5 pips on the releases since November 4.
On Friday, the value of the US Dollar is most likely going to adjust to the publication of the US Consumer Price Index and Core Consumer Price Index changes at 13:30 GMT. The rate has moved 19.1 to 30.4 pips due to the release since July 2021.
Click on the link below to find out more about data releases of this and other currency exchange rates.
USD/JPY short-term review
A surge of the USD/JPY would highly likely once again test the resistance of the high level zone at 113.88/113.97. However, take into account that the 50-hour simple moving average near 113.60 and the weekly R1 simple pivot point at 113.69 might slow down a move of the US Dollar higher against the Japanese Yen.Meanwhile, in the case of a decline below the 100 and 200-hour simple moving averages, the rate could reach the support of the weekly simple pivot point at 113.11. Below the pivot point, note the 112.60 level and the zone that surrounds it.
Hourly Chart
USD/JPY daily chart's review
The USD/JPY passed the support of the 50-day simple moving average. Further support could be provided by the 2019 and 2020 high level zone, which was broken in October.However, a proper recovery from the 112.60 mark might serve as a basis for an adjustment of the zone's borders. Namely, the 2019 and 2020 high level zone would be adjusted to include the 112.60 level.
Daily chart
On Thursday, on the Swiss Foreign Exchange, traders were short, as 74% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 58% to buy.
On Wednesday, the positions were 71% short and orders were 52% to buy.