The rate has ended trading between the 114.00 and 114.50 levels by declining below the 114.00 mark. However, the USD/JPY almost immediately stopped at the support of the 100-hour simple moving average at 113.90.
Economic Calendar
On Thursday, at 12:30 GMT the weekly US Unemployment Claims might cause a minor USD move. The claims have moved the rate from 5.9 to 24.7 base points since September 16.
At 13:45 GMT on Friday, the week's notable events will end with the publication of the US Manufacturing and Services PMIs. The USD/JPY has moved has moved from 6.5 to 11.9 pips allegedly due to the release since May 21.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
USD/JPY short-term review
If the 100-hour simple moving average pushes the USD/JPY up, the pair could find resistance first in the 55-hour simple moving average at 114.23. Above this level, the 114.50 zone could once again keep the rate down.Meanwhile, a decline below the 100-hour SMA might find support in the weekly simple pivot point at 113.64. Below the pivot point, the 200-hour SMA is located near the 113.25 level.
Hourly Chart
USD/JPY daily chart's review
Note the zone marked above the 112.00 currency exchange rate. The zone is the 2019 and 2020 high level zone. The USD/JPY has clearly passed the zone.Meanwhile, the 114.40/114.75 zone is the resistance zone of the late 2017 and 2018 high levels. This zone appears to have started to keep the rate down.
Daily chart
Since Monday, on the Swiss Foreign Exchange, traders were short, as 75% of open position volume was in short positions.
Meanwhile, on Tuesday, trader set up pending orders in the 100-pip range around the rate were 54% to buy.
The orders were 59% to sell on Monday