Economic Calendar
Volatility should be expected, Fundamental data from the United States could bring higher price moves to USD/JPY this week.
USD/JPY hourly chart analysis
Currently, the price is trading below 157.750. This price level can be considered a significant resistance, as it has not been broken since the end of December. If no further momentum occurs, the 154.6900 price level could be tested.Hourly Chart
USD/JPY daily candle chart analysis
On the daily candlestick chart, the current price of USD/JPY is trading between the 200-day and 100-day SMAs. The current price also represents the 38.2% Fibonacci retracement level, considering the price increase from mid-September as the entry point. Further price discovery towards 160.000 is possible if the 156.000 price level is broken, with 160.000 being the next target.
Traders' sentiment is mixed, with short positions making up the majority at 58%, while 48% represent the buy side. However, no significant bias related to USD/JPY has occurred.