Economic Calendar
No more notable events this week.
USD/JPY short-term review
In the case that the pair extends its decline, support would be most likely provided by the support zone at 115.63/115.66. Below the support zone, the November high zone and weekly R1 simple pivot point, and the 200-hour simple moving average are located at 115.40/115.53On the other hand, a surge of the US Dollar against the Japanese Yen might once again find resistance in the 116.00 level, before approaching the 116.19/116.24 zone.
Hourly Chart
USD/JPY daily chart's review
The daily candle chart has been returned. In general, the rate appears to be surging in a channel up pattern since late July. The channel has pushed the USD/JPY to break long term high level records.In the future, the exchange rate could step by step surge to 117.00 and 118.00 levels, before reaching the 2016 high level at 118.50.
Daily chart
Read More: Technical Analysis
Short sentiment decreases
On Thursday, on the Swiss Foreign Exchange, traders were short, as 73% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 60% to buy.
During Friday's trading, the sentiment was 70% short, and pending orders were 62% to buy.