On Friday, the USD/JPY traded near the 105.20/105.30 zone.
In the meantime, the rate had showed that it was not impacted by the 55 and 100-hour simple moving averages.
Economic Calendar
On Friday, the US Retail Sales data is capable of causing slight increases of above normal volatility. However, in most cases the market barely reacts to this data. Namely, there are no sudden asset price and exchange rate adjustments.
The USD/JPY has moved from 6.1 to 13.6 pips on the release.
Next week, on Thursday, the weekly US Unemployment Claims will be out at 12:30 GMT.
On Friday, the US Markit Flash Services and Manufacturing PMIs could cause a move from 6.2 to 22.8 pips.
Click on the link below to find out more about the data releases.
USD/JPY short-term daily review
It is likely that the exchange rate could be pushed down by the 55– and 100-hour moving averages in the 105.30 area. A possible downside target is the weekly S2 at 104.87.In the meantime, note that the currency pair could gain support from the Fibo 23.60% at 105.03. If the given support holds, the pair could trade sideways in the short run.
Hourly Chart
On the daily candle chart, the rate is ignoring the 55-day simple moving average, which was broken last week. Previously, the SMA kept the rate down for three months.
Daily chart
Since Wednesday, traders of the Swiss Foreign Exchange were short, as 67% of all open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range were 58% to buy.