USD/JPY returns below 137.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The USD/JPY passed the ascending support trend line in a sharp move, which eventually paused near 136.30. Throughout Thursday's trading, the pair fluctuated between 136.30 and 137.20.

Economic Calendar



On Friday, the US Producers Price Index and Core Producers Price Index are set to reveal inflation changes in the United States at the production level. In general, it is assumed that producer level inflation is followed afterwards by consumer level inflation, which the US policymakers want to reduce.

Hourly Chart
A move below the 136.30 level and the 100-hour simple moving average might look for support in the 136.00 level and the weekly simple pivot point at 135.93. Further below, round price levels could act as support.

On the other hand, a recovery of the pair would first have to breach the 137.00 level and the 50 and 200-hour simple moving averages. Higher above, note the 137.50 level and the Wednesday's high level range at 137.70/137.85.

USD/JPY daily chart's review

On the daily candle chart, the pair has retraced from the 134.00 level up to the resistance of the 200-day simple moving average at 137.40. The SMA is acting as resistance.

Daily chart




Short sentiment increases

On Wednesday, on the Swiss Foreign Exchange, traders were 60% short, as that amount 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 the USD against the JPY.

On Thursday, the sentiment was 63% short and orders were 64% to sell.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.