Economic Calendar
Volatility should be expected; however, no significant movement is likely to occur this week in the USD/JPY pair, as only data from the United States will be provided.
USD/JPY hourly chart analysis
Sideways trading activity may continue this week, with prices likely ranging from 156.000 to 158.500. If the RSI indicator is considered, USD/JPY could be seen as oversold on shorter time frames.Hourly Chart
USD/JPY daily candle chart analysis
On the daily candlestick chart, the current price of USD/JPY is trading above the 200-day and 100-day SMAs. Further price discovery towards 160.000 is possible if the 156.000 price level will become overall support level, with 160.000 being the next target.
Traders' sentiment is mixed, with long positions making up the majority at 53%, while 47% represent the short side. However, no significant bias related to USD/JPY has occurred.