The USD/JPY currency pair has revealed that it respects the support of the 113.51/113.56 zone. Namely, the rate has found support in this range two times and recovered from it.
Meanwhile, since Thursday, the pair has been kept down by the combined resistance of the weekly simple pivot point and the 50, 100 and 200-hour simple moving averages from 113.88 to 113.92.
Economic Calendar
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.
Next week, on Tuesday, the US Producer Price Index and Core Producer Price Index at 13:30 GMT could cause minor USD volatility. The USD/JPY has moved from 9.4 to 13.1 on the release.
On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price Index will be released. In addition, the weekly US Unemployment Claims are set to be out at the same time. If the data sets combined beat or disappoint forecasts, a notable move in all USD assets might occur.
The CPI has caused moves from 19.1 to 30.4 pips since June. Meanwhile, the Unemployment Claims have created moves from 5.9 to 12.2 base points.
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 breaking of the resistance of the weekly simple pivot point and the three simple moving averages might result in a surge to the week's high level zone at 114.22/114.28. Above this week's high levels, a resistance zone is located above the 114.40 mark.On the other hand, a decline would once again look for support in the 113.51/113.56 zone. Below this zone, the late October low level zone at 113.40/113.47 and the weekly S1 simple pivot point might provide 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. Meanwhile, the 113.50 mark appears to be providing support.Daily chart
On Friday, on the Swiss Foreign Exchange, traders were short, as 73% of open position volume was in short positions.
On Thursday, sentiment was 74% short.
Meanwhile, on Thursday, trader set up pending orders in the 100-pip range around the rate were 53% to sell.
On Friday, the orders were 65% to sell.