However, the pair made another attempt at passing the 119.00 mark, which failed. On Thursday, the pair retraced down to the 118.50 level and found support in it.
Click on the title below to read more on the monetary policy decisions.
Economic Calendar
This week's notable events are over. Next week's events will be described in the Friday's publication.
USD/JPY short-term review
A passing above the 119.00 mark of the USD/JPY currency pair might reach for the resistance of the 119.50 and 120.00 levels. Take into account that the pair has not been this high since early 2016.Meanwhile, a decline of the USD against the Japanese Yen could look for support in the 2017 high level at 118.60 and the 118.50 mark, before approaching the 118.40/118.45 zone and the 50-hour simple moving average.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the late 2016 and early 2017 high levels are passed and are already acting as support on Thursday.Daily chart
Read More: Technical Analysis
Traders are short on USD/JPY
On Thursday, on the Swiss Foreign Exchange, traders were short, as 71% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 53% to sell the USD against the JPY.