Economic Calendar
Elevated levels of volatility should be taken into consideration, both from Japan and from United States economic data release events will occur this week which could move the market.
USD/JPY hourly chart analysis
The FX pair is currently trading above 149.0000, under the 50-period, 100-period, and 200-period simple moving averages. A bullish reversal in the near term may push the price toward the 151.0000 resistance level.Hourly Chart
USD/JPY daily candle chart analysis
On the daily chart, the 50.0% Fibonacci retracement level may be tested as a support level in the near term. If the price holds at this level, a bullish move toward 160.000 could be plausible.
Read More: Technical Analysis
Traders sentiment mixed
Continuing previous week, traders' sentiment is mixed, with long positions making up the majority at 54%, while 46% represent the short side. However, no significant bias related to USD/JPY has occurred.
Continuing previous week, traders' sentiment is mixed, with long positions making up the majority at 54%, while 46% represent the short side. However, no significant bias related to USD/JPY has occurred.