Economic Calendar
This week, there are no notable pre-scheduled events that might impact the currency exchange rate.
Some financial news outlets note the upcoming "speech" of Jerome Powell on Thursday at 19:00 GMT. However, the head of the central bank is set to participate in a panel discussion at a research conference not give a speech. It is not normal for the head of the Fed to make notable comments at such minor events.
USD/JPY hourly chart analysis
A continuation of the ongoing surge is expected to be slowed down by the 151.50 level. Afterwards, the pair is set to test the resistance of the October 31 high level at 151.70.On the other hand, a decline of the currency exchange rate is set to look for support first in the 50-hour simple moving average near 150.75. Below the 50-hour SMA, take into account the 150.50 level and the combination of the 100 and 200-hour simple moving averages near 150.30.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate has additional support from the ascending 50-day simple moving average, which has reached 149.00. Meanwhile, note the marked 2022 high level at 152.00.Daily chart
Read More: Technical Analysis
Traders go long
On Thursday, traders were bullish on USD/JPY, as 60% of open positions on the Swiss Foreign Exchange were long.
Meanwhile, trader pending orders in the 100-point range around the current exchange rate were 53% to sell.