The USD/JPY rate reacted to the news with a decline below the low level range of 149.85/149.95. However, it appeared that the rate is still drawn to the 150.00 level and could remain near it.
Economic Calendar
On Wednesday, at 13:15 GMT the US ADP Non-Farm Employment Change could impact the markets by revealing surprise information about the US job market. In addition, on the same day at 15:00 GMT, the JOLTS Job Opening data will show, how many jobs are open. The data indicates, how active the economy is.
Top event of the week is scheduled for Friday at 13:30 GMT. The United States employment data sets are going to impact the financial markets. The release consists of Average Hourly Earnings change, Non-Farm Employment Change and the Unemployment Rate.
USD/JPY hourly chart analysis
A recovery of the US Dollar against the Yen is expected to face the 150.00 mark and the weekly simple pivot point at 150.04. Higher above, note the 50, 100 and 200-hour simple moving averages at 150.30/150.40. In addition, the 150.60 level acted as resistance on Monday.If the rate declines, note the late February low level at 149.20, the weekly S1 simple pivot point at 149.23 and the 149.00 mark taht could also act as support. In the meantime, it was spotted last week that the 149.60 level has been capable of acting as support.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the USD/JPY has managed to break the previous 2024 high level range. It appears to have found support in the 1998 high level of 147.60.However, since these events the pair has fluctuated sideways around the 150.00 mark. During the sideways trading, the rate has passed below the lower trend line of the channel up pattern that captures the 2024 surge.
Daily chart
Since Monday, trader open position volume showed that Dukascopy traders were 53% short.
Meanwhile, pending orders in the 100-point range around the rate were 59% to buy the USD/JPY.