Yesterday, the USD/JPY currency pair tumbled to the psychological level at 106.70.
From a theoretical perspective, it is likely that the pair could continue to trade downwards within a newly revealed falling wedge pattern.
Economic Calendar
On Thursday, the publication of the US Retail Sales and Unemployment Claims at 12:30 GMT.
Take a look at all of the historical reaction tables by clicking on the link below.
USD/JPY short-term daily review
On Wednesday, the USD/JPY currency pair tumbled to the 106.70 level. During today's morning, the pair was testing the resistance formed by the 55– and 100-hour SMAs near 107.10.Hourly Chart
On Thursday, on the Swiss Foreign Exchange 53% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range were neutral, as 51% of orders were to buy.