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 pair resumes its surge, it could aim at the late January high level zone near 115.70. Above the resistance zone, the weekly R1 simple pivot point might stop a surge at 115.83, before the USD/JPY reaches the 116.00 mark.Meanwhile, a decline of the USD against the Yen could look for support in the 50-hour SMA near 115.20 and the lower trend line of a channel up pattern. Further below, note the 100 and 200-hour simple moving averages and the weekly simple pivot point near 115.00.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate is approaching the November and late January high level near 115.50. The 115.50 mark is expected to act as resistance.Daily chart
Read More: Technical Analysis
Traders set up sell orders
Since Monday, on the Swiss Foreign Exchange, traders were short, as 72% of open position volume was in short positions.
Meanwhile, on Monday, trader set up pending orders in the 100-pip range around the rate were 56% to buy. However, on Tuesday, the orders were 59% to sell.