Economic Calendar
The week will end with the US Retail Sales and Core Retail Sales on Friday at 13:30 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
USD/JPY short-term review
If the currency exchange rate surges above the resistance zone at 113.87/113.96 and the 114.00 mark, it could aim at the resistance of the weekly S2 simple pivot point at 114.23 and the late December resistance zone at 114.22/114.28. In addition, at mid-day on Friday the 50-hour simple moving average was approaching near the 114.35 level.Meanwhile, a continuation of the decline might look for support in the 113.50 mark and the weekly S3 simple pivot point at 113.51. Below these levels, the 113.20 level marks the start of the 113.15/113.20 zone of the December low levels.
Hourly Chart
USD/JPY daily chart's review
The USD/JPY currency exchange rate has passed the support zone of the 2017, 2018 and 2019 high levels at 114.35/114.75. The zone was passed by the lower trend line of a large scale channel up pattern. Moreover, the 50-day simple moving average was passed.By passing the cluster of technical levels, the rate no longer has additional support on the daily candle chart. The most close by technical level was the 100-day simple moving average near 113.00.
Daily chart
Read More: Technical Analysis
Short traders sit on positions
Since Tuesday, on the Swiss Foreign Exchange, traders were short, as 72% of open position volume was in short positions.
Meanwhile, on Friday, trader set up pending orders in the 100-pip range around the rate were 76% to buy.