After finding support in the 105.80 level, the USD/JPY currency exchange rate began a recovery, which tested the resistance of the hourly simple moving averages.
Near term future depended on whether the SMAs provide resistance.
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
Yesterday, the USD/JPY currency pair dropped to the 105.90 level. During today's morning, the pair touched 105.80.Hourly Chart
Since Monday, traders of the Swiss Foreign Exchange were bearish, as 60% of all open position volume was in short positions.
The sentiment changed on Wednesday, as 62% of volume was short at mid-day.
Meanwhile, trader set up pending orders in the 100-pip range were 60% to buy.