Economic Calendar
This week, the markets might move due to various publications. On Tuesday, at 14:00 GMT, the US Dollar could adjust to the publication of the US CB Consumer Confidence survey results.
On Thursday, the US Preliminary GDP data publication might move the markets. The market consensus is that the US GDP has increased by 2.8% in the last quarter.
On Friday, markets will adjust to the publication of the US Core Price Index publication at 12:30 GMT.
USD/JPY hourly chart analysis
A potential recovery of the US Dollar against the Japanese Yen could find resistance in the 145.00 mark that is set to be supported by the 50 and 100-hour simple moving averages. Higher above, note the weekly simple pivot point at 145.48 that might slow down the rate, before it reaches the 146.00/146.50 range.On the other hand, a decline of the pair further would have to pass the 143.50 level, before the rate looks for support in the weekly S1 simple pivot point at 142.92. Even further below, note the 142.00 level and the zone below it.
Hourly Chart
USD/JPY daily candle chart analysis
The rate has confirmed that it is resuming the prior decline, as it has passed the support range that kept it above 144.60/146.00.Read More: Technical Analysis
Traders are bullish
On Monday, Dukascopy traders positions were bullish, as open position volume was 67% long.
Meanwhile, pending orders in the 100-point range around the rate were 86% to sell.
On Wednesday, before the Fed release, traders were 55% long and orders were 75% to sell.
Meanwhile, pending orders in the 100-point range around the rate were 86% to sell.
On Wednesday, before the Fed release, traders were 55% long and orders were 75% to sell.