Economic Calendar
Watch out for the US Consumer Price Index at 12:30 GMT, on Thursday. The inflation data will reveal whether the Fed is managing to fight inflation or not.
On August 11, the markets will look at the US Producer Price Index at 12:30 GMT to analyse potential consumer price increases in the future.
Hourly Chart
A move above 143.50 and the weekly R1 simple pivot point at 143.49 could be slowed down by the 144.00 and 144.50 levels. Above these levels, the June high levels are expected to act as resistance at 144.90/145.10.
On the other hand, a decline of the US Dollar against the Japanese Yen is set to look for support in the 142.70/143.10 range, the 50 and 100-hour simple moving averages and the lower trend line of a channel up pattern.
USD/JPY daily chart's review
On the daily candle chart, the rate has confirmed that the 50-day simple moving average can still act as support, as it has provided support on Monday and caused the recent minor recovery.Daily chart
On Wednesday, traders were bearish on USD/JPY, as 58% of open positions on the Swiss Foreign Exchange were short.
In the meantime, trader pending orders in the 100-point range around the current exchange rate are 59% to buy.
On Tuesday, 60% of positions were short and orders were 51% to buy.