On Monday, the USD/JPY currency exchange rate was testing technical resistance levels near the 105.00 level.
Future scenarios were based upon whether the 105.00 level is passed or the rate bounces off it.
Economic Calendar
On Tuesday, the US Durable Goods Orders and Core Durable Goods Orders will be released at 12:30 GMT. This event has caused moves on the USD/JPY from 5.3 to 11.6 base points.
On Thursday, at 12:30 GMT two events will be released that the financial media will talk about. However, recently both of them have not caused notable moves.
The GDP has moved the USD/JPY from 9.2 to 21.1 pips since July 2019. Meanwhile, the Unemployment Claims since September 24 have caused 2.9 to 9.2 pip moves
Click on the link below to find out more about the data releases of this and other currency exchange rates.
USD/JPY short-term daily review
It is likely that the exchange rate could be pushed down by the resistance area formed by the 100– and 200-hour SMAs, as well the weekly PP and the Fibo 23.60% in the 104.94/105.13 range.In the meantime, note that the currency pair is supported by the 55-hour SMA near 104.75. Therefore, the pair could try to exceed the monthly PP at 105.34 within the following trading session.
Hourly Chart
On the daily candle chart, the rate has no close by additional resistance or support. Namely, the most close by resistance was the 55-day SMA at 105.68 and support was concentrated in the 104.10/104.20 rage.
Daily chart
Since Thursday, traders of the Swiss Foreign Exchange were slightly short, as 54% of all open position volume was in short positions.
In the meantime, on Monday, trader set up pending orders in the 100-pip range around the rate were 77% to sell.