On Tuesday, the USD/JPY currency exchange rate traded between the 107.15 and 107.35 levels.
Meanwhile, the rate was supported by the 55, 100 and 200 hour simple moving averages at 107.20 and 107.15.
Economic Calendar
There are only couple data releases expected, which could move the USD/JPY pair.
On Thursday, the US Unemployment Claims data is set to be published at 12:30 GMT.
On Friday, the US Manufacturing and Services PMIs survey results are going to be released at 13:45 GMT.
Take a look at all of the historical reaction tables by clicking on the link below.
USD/JPY short-term daily review
It is likely that the exchange rate could gain support from the 55-, 100– and 200-hour SMAs in the 107.10 area and re-test the upper channel line circa 107.50.If the given channel holds, it is likely that the rate could continue to trade upwards along the upper channel line. Otherwise, it is likely that the pair could exceed the psychological level at 107.60.
Hourly Chart
On the daily candle chart, the rate trades below the additional resistance of the 55- and 100-day simple moving averages that are located in the 107.50 area.
Daily chart
On Monday, on the Swiss Foreign Exchange 60% of open position volume was in long positions.
By the middle of Tuesday's GMT trading hours, the sentiment had decreased to 54% long.
Meanwhile, trader set up pending orders in the 100-pip range were bearish, as 56% of orders were to sell.
The orders were balanced on Monday.