Economic Calendar
This week's notable events are over.
USD/JPY hourly chart analysis
In the case of a resumption of the prior recovery, the rate would have to first pass above the 143.00 level's resistance. Higher above, note the 143.50/143.75 range and the weekly simple pivot point, together with the 200-hour simple moving average.A decline of the US Dollar against the Yen would first look for support in the 141.65/142.00 zone and the 50-hour simple moving average, prior to approaching the combination of the 2024 low level at 140.80 and the lower trend line of the channel down pattern.
Hourly Chart
USD/JPY daily candle chart analysis
On the daily candle chart, observe the major support range at 137.40/139.40. This zone might act as support, if the pair passes below the August low level of 141.75.
Read More: Technical Analysis
Traders remain long
On Monday, Dukascopy traders positions were bullish, as open position volume was 74% long.
Meanwhile, pending orders in the 100-point range around the rate were 56% to buy.
On Thursday, open position volume was 70% long and pending orders were 68% to sell.
Meanwhile, pending orders in the 100-point range around the rate were 56% to buy.
On Thursday, open position volume was 70% long and pending orders were 68% to sell.