Economic Calendar
Overall, high volatility levels should be anticipated, however any significant deviation from the relevant forecasted data, may change market sentiment.
USD/JPY hourly chart analysis
In the short term, if bullishness continues, the bullish trade channel pattern may also persist and push the price toward the 150.000 resistance level. Further price action above the simple moving averages may be considered a bullish signal. However, if the channel pattern breaks and bearish momentum emerges, the 145.000 resistance zone may be tested.Hourly Chart
USD/JPY daily candle chart analysis
Continuing previous week, sideways trading zone between the 142.100 and 148.700 levels may persist if market participants are unable to establish a clear directional bias. In the absence of strong fundamental catalysts or decisive technical signals, price action could remain range-bound within this channel.
Read More: Technical Analysis
Traders sentiment mixed
Further continuation of previous week, trader sentiment remains balanced, with long positions accounting for 52% and shorts at 48%. There's no clear directional bias in USD/JPY at this time.