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
A move above 150.00 and the weekly R1 simple pivot point at 149.99 might result in a broader surge that would have no resistance as high as the weekly R2 at 150.88, the upper trend line of a channel up pattern and the 151.00 mark.On the other hand, a decline of the USD versus the Japanese Yen is set to look for support in the 149.50 and 149.00 levels. The 149.00 mark is being strengthened by the lower trend line of the channel up pattern and the 50 and 100-hour simple moving averages.
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 74% long and pending orders were 62% to sell.
Meanwhile, pending orders in the 100-point range around the rate were 64% to buy.
On Wednesday, open position volume was 74% long and pending orders were 62% to sell.