Economic Calendar
The USD/JPY has moved from 19.1 to 31.3 pips on the release.
On Thursday, at 13:30 GMT, the US Producers Price Index and Core Producers Price Index data sets are scheduled to be published. At the same time, the US weekly Unemployment Claims could cause a minor impact on the USD.
The PPI has moved the rate 9.4 to 12.9 pips, and the Unemployment Claims have moved the rate 6.2 to 19.5 base points.
The week will end with the US Retail Sales and Core Retail Sales on Friday at 13:30 GMT.
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 decline of the USD/JPY currency exchange rate could eventually reach and test the support zone that surrounds the 115.00 mark at 114.96/115.04. Below the zone, note the weekly S1 simple pivot point at 114.92.However, a potential recovery of the US Dollar against the Japanese Yen could face resistance in the 50-hour simple moving average near 115.30, before the pair aims at the combined resistance of the January high level resistance line and the 100 and 200-hour simple moving averages near 115.50. Higher above, note the weekly simple pivot point at 115.64.
Hourly Chart
USD/JPY daily chart's review
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.However, most recently, it appears that the rate has started a retracement to the support zone of the 2017, 2018 and 2019 high levels at 114.35/114.75. In addition, the zone is being passed by the lower trend line of the mentioned channel. Moreover, the 50-day simple moving average is approaching the previous high levels.
Daily chart
On Monday, on the Swiss Foreign Exchange, traders were short, as 75% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 57% to buy.
During Tuesday's trading, the sentiment was 72% short, and pending orders were 53% to sell.
On Wednesday, the positions were still 72% short. However, the pending orders had moved to be 63% long. Namely, traders remain short, but their stop losses and take profits should be close by.