On Friday, the USD/JPY currency exchange rate passed the resistance of the 110.40 level, which was strengthened by the weekly R1 simple pivot point. Moreover, the rate reached above the 110.50 mark.
Economic Calendar
On Monday, a slight move on all USD assets could be caused by the US Durable Goods Orders and Core Durable Goods Orders release at 12:30 GMT.
On Thursday, at the same time as the US GDP, the US weekly Unemployment Claims could also impact the USD.
On Friday, at 14:00 GMT a notable move could be created by the US ISM Manufacturing PMI results.
USD/JPY short-term review
In the near term future, the pair could continue to surge. A surge would most likely reach for the resistance of the weekly R2 simple pivot point at 110.81 before aiming at the 111.00 level.In the meantime, a bounce off from any of the mentioned resistance levels would be expected to look for support in the 110.40 level and the weekly R1 simple pivot point.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate has reached the 110.60 level zone, which has kept the USD/JPY down since early July. A passing of this level could see the rate return to early summer high levelsOn the other hand, a bounce off from the resistance zone could decline first to the 55 and 100-day simple moving averages near 109.90 and afterwards the summer low level zone near 109.00.
Daily chart
On Friday, on the Swiss Foreign Exchange, traders were short, as 74% of open position volume was in short positions.
On Thursday, the sentiment was 69% short.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 68% to sell.