Economic Calendar
Elevated levels of volatility may occur this week, as fundamental data from both Japan and the United States will be important.
USD/JPY hourly chart analysis
In the short term, as the USD/JPY trades above key simple moving averages, a steady move towards the 145.000 level appears to be a plausible scenario. The strength of the U.S. dollar, coupled with supportive technical indicators, propels the pair towards this psychological resistance level.However, any significant economic data releases or shifts in market sentiment can introduce volatility and alter the pair's trajectory. As long as the price action holds above these moving averages, momentum builds, enabling a gradual advance towards 145.000. If bearish signals or unexpected developments arise, a retracement becomes possible, especially if the pair fails to maintain its position above the moving averages.
Hourly Chart
USD/JPY daily candle chart analysis
A long-term descending channel may be forming, suggesting a continued bearish trend. If the pattern holds, the price could stay within the channel and gradually move toward the key support level at 140.000. Traders should watch for reactions near the channel boundaries, as a break below support could confirm further downside, while a breakout above the channel may signal a trend reversal.
Read More: Technical Analysis
Traders sentiment mixed
Continuing previous week, traders' sentiment is mixed, with long positions making up the majority at 59%, while 41% represent the short side. However, no significant bias related to USD/JPY has occurred.
Continuing previous week, traders' sentiment is mixed, with long positions making up the majority at 59%, while 41% represent the short side. However, no significant bias related to USD/JPY has occurred.