Economic Calendar
Top event of the month is scheduled for 19:00 GMT on Wednesday. At that time, the US Federal Funds Rate, FOMC Statement and Economic Projections are going to be published. The USD is expected to be highly volatile.
The week's notable events will end with the weekly US Unemployment Claims at 13:30 GMT and the US PMIs at 14:45 GMT. These events have rarely caused notable USD moves.
Click on the link below to find out more about data releases of this and other currency exchange rates.
USD/JPY short-term review
A passing of the resistance of the December high zone at 113.88/113.96 might not result in a surge, as the 114.00 level could provide resistance. Above the 114.00 mark, the weekly R2 simple pivot point at 114.51 and the 114.50 are highly likely set up to stop a surge.Meanwhile, a bounce off from the resistance zone would look for support in the 50, 100 and 200-hour simple moving averages at 113.65, 113.60 and 113.50. Further below, the weekly simple pivot point at 113.40 is set to act as support.
Hourly Chart
USD/JPY daily chart's review
The USD/JPY currency exchange rate is ignoring the 50-day simple moving, average, which is located at the 113.50 mark.Daily chart
On Tuesday, on the Swiss Foreign Exchange, traders were short, as 72% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 52% to sell.
On Wednesday, traders were 71% short, and pending orders were 63% to sell.