Economic Calendar
On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT is set to impact the value of the US Dollar. Note that at the same time, the weekly US Unemployment Claims will be published.
Click on the link below to find out more about data releases of this and other currency exchange rates.
USD/JPY short-term review
If the USD recovers against the Japanese Yen, the pair might once again test the resistance of the 115.40 mark, before aiming at the weekly R1 simple pivot point at 115.83.Meanwhile, a potential decline of the pair would almost immediately encounter the support of the 100-hour simple moving average near 114.80. Further below, there is no technical support as low as the weekly S1 simple pivot point at 114.40.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate has returned to the 50-day SMA near 114.40. The SMA could provide support for the recovery, which appeared to have started on Thursday.Daily chart
Read More: Technical Analysis
Traders are short
On Monday, 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 56% to buy.