Economic Calendar
On Tuesday, at 13:30 GMT, the US Producers Price Index data will reveal, how high is the inflation at the production level.
Possibly the top event of the week will take place on Wednesday at 19:00 GMT, as the US Federal Open Markets Committee Meeting Minutes will be published. The Meeting Minutes provide an insight to the decisions of the US Federal Reserve.
On Thursday, the US Unemployment Claims could cause an adjustment of the USD value.
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 rate passes above the 115.68/115.71 zone, the pair would face no resistance as high as the February high level zone at 116.25/116.35 and the weekly R1 simple pivot point at 116.27. However, take into account that the round exchange rate level of 116.00 might act as resistance.Meanwhile, a potential decline could decline to the 115.00 mark and the support zone above it, which reversed two declines during early Monday's trading. In the meantime, note that the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point, despite being previously ignored, could start to provide support.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate has reached the early 2022 high level and passed the November and January high level at 115.50. The rate needs to pass the 116.00 mark to book new high levels.Daily chart
On Tuesday, on the Swiss Foreign Exchange, traders were short, as 75% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 50% to buy and sell the USD against the JPY.
On Monday, the open positions were 74% to sell and pending orders were 56% to buy.