Economic Calendar
On Tuesday, at 13:30 GMT, the US Producers Price Index and Core Producers Price Index are expected to cause minor moves on all USD pairs.
On Wednesday, at 13:30 GMT, the US Retail Sales and Core Retail Sales are set to impact the USD.
Top event of the month is scheduled for 19:00 GMT on Wednesday. At that time, the US Federal Funds Rate, FOMC Statement and Economic Projections are going to be published. The USD is expected to be highly volatile.
The week's notable events will end with the weekly US Unemployment Claims at 13:30 GMT and the US PMIs at 14:45 GMT. These events have rarely caused notable USD moves.
Click on the link below to find out more about data releases of this and other currency exchange rates.
USD/JPY short-term review
In the case of the rate passing the support of the 200-hour SMA and the weekly simple pivot point at 113.40, a potential decline might reach the weekly S1 simple pivot point at 112.84. However, note that the 113.00 mark might act as support.On the other hand, a recovery of the US Dollar against the Japanese Yen is highly likely going to encounter resistance at the December high level zone at 113.88/113.96. In addition, the weekly R1 simple pivot point is located at 113.95.
Hourly Chart
USD/JPY daily chart's review
The USD/JPY currency exchange rate is ignoring the 50-day simple moving, average, which is located at the 113.50 mark.Daily chart
On Tuesday, on the Swiss Foreign Exchange, traders were short, as 72% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 52% to sell.