The US Dollar edged higher by 72 pips or 0.66% against the Japanese Yen on Thursday. The currency pair tested the 109.21 area during yesterday's trading session.
The exchange rate reversed from the resistance level at 109.21 during the Asian session on Friday.
Economic Calendar
Notable events for this week have ended. Expect the next week's analysis to be published this evening in the Fundamental Analysis section.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
USD/JPY short-term review
The USD/JPY currency exchange rate broke the resistance level at 109.21 on Friday, provided with support by the 55– hour simple moving average at 108.82.Hourly Chart
USD/JPY daily chart's review
On Friday, the rate has continued to trade above the 50.00% Fibonacci retracement level at the 109.06 mark, after finding support at the 55-day simple moving average on Tuesday.Daily chart
On Friday, traders on the Swiss Foreign Exchange were 59% short on USD/JPY. The short volume declined from 62% on Thursday.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 82% to buy the pair.
On Thursday, the orders were 50% to buy and sell the pair.