Since Wednesday, the USD/JPY currency pair has been consolidating in the 105.60 area.
It is likely that the pair could maintain its consolidation in the short run.
Economic Calendar
On Friday, the US Employment data set release could be in the spotlight. The release is scheduled to 12:30 GMT.
The week ahead is going to be relatively calm on the economic calendar. Most of the events, that could impact the markets, are from the US.
On Tuesday, the US Core PPI and PPI data are going to be released at 12:30 GMT.
On Wednesday, the US Core CPI and CPI data will be released at 12:30 GMT.
On Thursday, the US Unemployment Claims data might affect the market. The release is scheduled to 12:30 GMT.
The week will end with the US Retail Sales data release on Friday at 12:30 GMT.
Click on the link below to find out more about the data releases.
USD/JPY short-term daily review
On Thursday, the USD/JPY currency pair consolidated in the 105.60 area. During today's morning, the pair maintained its consolidation.Given that the exchange rate is supported by the weekly PP and the 200-hour SMA at 105.40, it is likely that some upside potential could prevail in the market. In this case the rate could face the resistance level—the monthly PP at 106.09.
Meanwhile, note that the currency pair is pressured by the 100-hour SMA near 105.75. Thus, it is likely that the US Dollar could consolidate against the Japanese Yen in the short run.
Hourly Chart
On the daily candle chart, the rate continues to trade downwards, guided by the descending channel.
It is likely that the pair could gain support from the monthly S2 at 104.18.
Daily chart
On Friday, on the Swiss Foreign Exchange 56% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range were 66% to buy.