Economic Calendar
On Thursday, the weekly US Unemployment Claims at 12:30 GMT might cause a minor USD move.
Click on the link below to find out more about data releases of this and other currency exchange rates.
Hourly Chart
A continuation of the retracement back downwards might look for support in the 127.50 mark. Further below, note the weekly R1 simple pivot point at 127.35 and the approaching 100-hour simple moving average. Afterwards, the 127.00 level could act as support.
However, a move of the USD/JPY pair higher, is likely set to encounter resistance in the weekly R2 simple pivot point at 128.35 and the 128.50 and 129.00 levels, before approaching the 129.34/129.40 zone.
USD/JPY daily chart's review
On the daily candle chart, the pair has reached above the 2015 High level. In regards to historical levels. This is the highest that we have on our charts. Namely, the USD/JPY has not been this high for more than 20 years. Dukascopy Analytics will look up longer term charts and mark the levels in the near term future.Daily chart
On Wednesday, on the Swiss Foreign Exchange, traders were short, as 74% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 64% to sell the USD against the JPY.