Yesterday, the USD/JPY currency pair reversed south from the 107.40 level.
It is likely that the pair could gain support from the 55- and 100-hour SMAs, as well the weekly PP in the 107.10 area.
Economic Calendar
Next week, there are only couple data releases expected, which could move the USD/JPY pair.
On Thursday, the US Unemployment Claims data is set to be published at 12:30 GMT.
On Friday, the US Manufacturing and Services PMIs survey results are going to be released at 13:45 GMT.
Take a look at all of the historical reaction tables by clicking on the link below.
USD/JPY short-term daily review
On Thursday, the USD/JPY currency pair broke the upper line of a newly revealed falling wedge pattern. During today's morning, the pair was testing the support formed by the 55– and 100-hour SMAs, as well the weekly PP in the 107.10 area.Hourly Chart
On Friday, on the Swiss Foreign Exchange 54% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range were neutral, as 58% of orders were to sell.