Economic Calendar
From the US Dollar's side, the markets could react on Thursday at 12:30 GMT to the publication of the US monthly Retail Sales data and weekly Unemployment Claims.
USD/JPY hourly chart analysis
In the near term future, the pair is expected to make another attempt to pass the 150.00 mark and the weekly R1 simple pivot point at 149.99. A move above these levels would result in the rate having no resistance as high as the weekly R2 simple pivot point at 150.88 and the 151.00 mark.On the other hand, a decline is expected to be slowed down by the 50, 100 and 200-hour simple moving averages and the 149.00 level. Further below, support might be found in the weekly simple pivot point at 148.67, the 148.50 and the 148.00 levels.
Hourly Chart
USD/JPY daily candle chart analysis
On the daily candle chart, the recovery continued as one level is broken after another. Most recently, the rate reached the 100-day simple moving average near 150.00.
Read More: Technical Analysis
Traders remain long
On Monday, Dukascopy traders positions were bullish, as open position volume was 73% long.
Meanwhile, pending orders in the 100-point range around the rate were 64% to buy.
On Wednesday, open position volume was 70% long and pending orders were 65% to buy.
Meanwhile, pending orders in the 100-point range around the rate were 64% to buy.
On Wednesday, open position volume was 70% long and pending orders were 65% to buy.