On Thursday, the USD/JPY traded in limbo around the 105.40 level. The pair was kept there by the resistance of the 105.50 mark.
The rate was expected to continue to trade sideways until it would be approached by the support of the 55-hour simple moving average.
Economic Calendar
The week will end with a possible minor move from the US Durable Goods Orders at 12:30 GMT.
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USD/JPY short-term daily review
From the one hand, it is likely that some upside potential could prevail in the market in the nearest future. In this case the exchange rate could face the resistance level—the weekly R1 at 105.76.Hourly Chart
Since Monday, traders of the Swiss Foreign Exchange were long, as 57% of all open position volume was in long positions.
These positions have been profiting from the recent surge.
Meanwhile, trader set up pending orders in the 100-pip range were 71% to sell.
The orders were 65% to sell on Wednesday.