Economic Calendar
Volatility should be expected; however, no significant movement is likely to occur this week in the USD/JPY pair, as only data from the United States will be provided.
USD/JPY hourly chart analysis
Sideways trading activity may continue this week, with prices likely ranging from 156.000 to 158.500. If the RSI indicator is considered, USD/JPY could be seen as oversold on shorter time frames.Hourly Chart
USD/JPY daily candle chart analysis
On the daily candlestick chart, the current price of USD/JPY is trading above the 200-day and 100-day SMAs. Further price discovery towards 160.000 is possible if the 156.000 price level will become overall support level, with 160.000 being the next target.
Read More: Technical Analysis
Traders sentiment mixed
Traders' sentiment is mixed, with long positions making up the majority at 53%, while 47% represent the short side. However, no significant bias related to USD/JPY has occurred.
Traders' sentiment is mixed, with long positions making up the majority at 53%, while 47% represent the short side. However, no significant bias related to USD/JPY has occurred.