Economic Calendar
Elevated levels of volatility should be considered highly plausible, especially with macroeconomic news coming from both Japan and the United States. Wednesday and Thursday should bring the most significant price swings, as GDP data and the Fed's interest rate decision will be released from the U.S., along with CPI data from Japan.
USD/JPY hourly chart analysis
The FX pair has seen a slight decrease in price, reaching the 154.000 level. This level will be tested as a price support in the short term. If further bearishness occurs, a move to the downside towards 151.800 could follow. Additionally, a bullish move towards 158.500 could increase in probability.Hourly Chart
USD/JPY daily candle chart analysis
On the daily candlestick chart, the current price of USD/JPY is trading above the 200-day and 100-day SMAs. Further price discovery towards 160.000 is possible if the 156.000 price level will become overall support level, with 160.000 being the next target.
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Traders sentiment mixed
Traders' sentiment is mixed, with long positions making up the majority at 51%, while 49% represent the short side. However, no significant bias related to USD/JPY has occurred.
Traders' sentiment is mixed, with long positions making up the majority at 51%, while 49% represent the short side. However, no significant bias related to USD/JPY has occurred.