During the early hours of Monday, the USD/JPY found support in the 100-hour simple moving average. The SMA stopped the decline of the rate.
In the near term future, the SMA was set to be watched, as it could cause a surge of the USD/JPY.
Economic Calendar
On Thursday, at 12:30 GMT a group of minor US data sets is scheduled to be published. The set will consist of US Producers Price Index, Core Price Index and Unemployment claims. In most cases these data releases cause insignificant moves.
The week will end with the publication of the US Consumer Price Index and Core Consumer Price Index changes. This event had been insignificant and did not cause increases of volatility since April. However, in August, there were notable moves on all USD pairs.
Click on the link below to see the historical reaction tables.
USD/JPY short-term daily review
During today's morning, the pair was testing the 100-hour SMA near 106.20.Hourly Chart
On Friday, traders of the Swiss Foreign Exchange were neutral, as 57% of all open position volume was in short positions.
On Monday, the sentiment was 60% short.
Meanwhile, trader set up pending orders in the 100-pip range were 52% to buy.