During the events the USD/JPY rate reached the 148.50 level, which acted as resistance and caused a decline to the 50-hour simple moving average near 147.70.
Economic Calendar
There are no more notable events scheduled for this week.
USD/JPY hourly chart analysis
In the near term future, the rate could resume its surge. Note that the 148.50 and 149.00 levels are set to act as resistance. Higher above, take into account the combination of the weekly R3 simple moving average near 149.40 and the 149.50 level. Above these levels, the 150.00 mark could once again be tested.However, a decline below the weekly R2 simple pivot point at 147.91, the 50-hour simple moving average and the 147.50 level might result in a decline to the combination of the 147.00 level and the 100-hour SMA, which could soon reach the round level.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the USD/JPY has passed above all daily simple moving averages and the support and resistance zone at 144.60/146.00. Note the resistance of the 150.00 mark and the 2022 and 2023 high levels at 152.00.Daily chart
Read More: Technical Analysis
Traders are long
On Thursday, trader open position volume showed that Dukascopy traders were 72% long.
Meanwhile, pending orders in the 100-point range around the rate were 50% to buy and sell the USD/JPY.