The USD/JPY currency exchange rate continued to surge throughout Friday. The surge extended into Monday. However, during the early hours of the day's trading, the pair found resistance in the mid-October high level zone at 114.44/114.47.
Economic Calendar
On Monday, the US ISM Manufacturing PMI will be published at 14:00 GMT. The rate has moved from 9.3 to 19.1 pips on the release since June 2021.
On Wednesday, at 12:15 GMT the US ADP Non-Farm Employment Change could cause a minor USD move. The USD/JPY has reacted to the event with moves from 9.7 to 27.3 pips.
Later on, at 14:00 GMT the US ISM Non-Manufacturing PMI will be out. During the event, the pair has moved from 8.5 to 35.4 pips.
Wednesday will end with the US Federal Open Markets Committee Statement and Federal Funds Rate publication at 18:00 GMT. The USD/JPY has moved from 15.9 to 53.2 base points during the time of the publication.
On Thursday, at 12:30 GMT, the US Unemployment Claims on Thursday might cause a minor USD move. The rate has moved 5.9 to 12.2 pips, as the Claims are released.
On Friday, US statisticians will publish their monthly employment data sets at 12:30 GMT. The event has moved USD/JPY from 25.4 to 38.4 pips since June 2021.
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
A passing of the 114.44/114.47 zone might find resistance in the weekly R1 at 114.49, Afterwards, the October high level at 114.70 could provide resistance.On the other hand, a decline would have no support as low as the 113.80/113.90 zone. In that zone the 55, 100 and 200-hour simple moving averages are located together with the weekly simple pivot point at 113.88. Meanwhile, take into account that the 114.00 mark might serve as support.
Hourly Chart
USD/JPY daily chart's review
The 114.40/114.75 zone is the resistance zone of the late 2017 and 2018 high levels. On Monday, the rate once again moved into the zone.Daily chart
Since Friday, on the Swiss Foreign Exchange, traders were short, as 75% of open position volume was in short positions.
Meanwhile, on Friday, trader set up pending orders in the 100-pip range around the rate were 67% to sell.
On Monday, the orders were 72% to sell.