Economic Calendar
Elevated levels of volatility may be anticipated, if fundamental data presented from both Japan and United States would bring higher level of significance than previously expected.
USD/JPY hourly chart analysis
USD/JPY pair is in a clear short-term downtrend. The price has recently broken below a key long-term average around the 148.000 level, which is a strong sign of weakness. Momentum indicators also show that sellers are currently in control. The next important support level to watch is the moving average near 147.772. If the price attempts to bounce back, the 148.000 level it just broke is now likely to act as a point of resistance.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 both long and short positions accounting for 50%. There's no clear directional bias in USD/JPY at this time.