Economic Calendar
Thursday will end with the US ISM Services PMI, which might cause minor volatility.
On Friday, the US is going to publish employment data at 13:30 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
USD/JPY short-term review
If the rate continues to decline, it would most likely look for support in the 114.00 mark and the 113.93 level. Below these levels, note the January low levels at 113.50.Meanwhile, a recovery of the US Dollar against the Japanese Yen would be set to encounter resistance in the 200-hour simple moving average near 114.60, before aiming at the weekly simple pivot point at 114.81 and the 50-hour simple moving average.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate has passed the support of the zone that surrounds the 114.50 level and the 50-day simple moving average. Next support level on the chart was the 100-day simple moving average and the lower trend line of the channel up pattern.Daily chart
Read More: Technical Analysis
Traders are short
On Wednesday, on the Swiss Foreign Exchange, traders were short, as 73% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 69% to buy.