The USD/JPY currency exchange rate has revealed that it is trading sideways in a 35 base point range between the 109.74 and 110.09 levels. Meanwhile, additional resistance was being provided by the 55-hour simple moving average at 110.05
Economic Calendar
Today, the release of the US Retail Sales data at 12:30 GMT could cause an increase of volatility.
On Friday, at 13:45 GMT, the US Markit PMI data sets could impact the rate through the value of the US Dollar.
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
In the case that the rate passes the levels near 110.00, it would face additional resistance from the 100-hour simple moving average at 110.20. Above that, level 200-hour simple moving average and the weekly simple pivot point at 110.29 could provide resistance.On the other hand, a decline below 109.74 could look for support in the July low level at 109.54. Below the July low level, the weekly S1 simple pivot point at 109.38 could provide additional support.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate was piercing the support of the 55-day simple moving average, which was located at the 109.80 level.Meanwhile, the rate is being approached by the support of the 100-day simple moving average at 109.36.
Daily chart
On Friday, traders on the Swiss Foreign Exchange were 70% short on the USD/JPY currency pair.
Meanwhile, SWFX traders set up pending orders in the 100-pip range around the rate were 66% to buy.