Economic Calendar
The most notable event of the week will be the US and Canadian monthly employment data release on Friday at 13:30 GMT.
However, some might argue that the FOMC Meeting Minutes release on Wednesday at 19:00 GMT might cause a larger move. However, historical data of immediate reactions shows that it is not the case.
On Wednesday, at 13:15 GMT, the ADP Non-Farm Employment Change might cause minor USD moves on all charts.
On Thursday, the official US Unemployment Claims at 13:30 GMT could create USD volatility. Later on, on the same day, the US ISM Non-Manufacturing Purchasing Managers Index is set to be published at 15:00 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
USD/JPY short-term review
A move above the weekly R3 simple pivot point at 116.35 would face no technical resistance, as there is none on the hourly candle chart. One could look historical resistance on larger scale charts. However, take into account that round exchange rate levels might act as resistance.On the other hand, a decline from the 116.35 level could look for support in the 115.80 level and the weekly R2 simple pivot point at 115.78. Further below, the 115.40/115.50 zone is highly likely to stop a potential decline.
Hourly Chart
USD/JPY daily chart's review
The daily candle chart has been replaced with the weekly candle chart to reveal the 2017 and 2018 high levels, which have been passed. Note that the late 2016 high level could act as resistance, if the surge continues.Daily chart
On Tuesday, on the Swiss Foreign Exchange, traders were short, as 72% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 66% to buy.