Economic Calendar
On Friday, the US is going to publish employment data at 13:30 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
USD/JPY short-term review
If the currency exchange rate passes the resistance of the 100-hour SMA at 114.90 and the 115.00 mark, it would have no technical resistance as high as the weekly R1 simple pivot point at 116.14. However, take into account that the 115.20 and 115.60 levels could act as resistance. Both of these levels have impacted the rate in late January.On the other hand, a decline of the pair might find support in the weekly simple pivot point at 114.81 and the 50 and 200-hour simple moving averages near 114.60, before once again reaching the 114.20 level.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate has returned to the 50-day SMA near 114.40. The SMA could provide support for the recovery, which appeared to have started on Thursday.Daily chart
Read More: Technical Analysis
Traders are short
On Wednesday, on the Swiss Foreign Exchange, traders were short, as 73% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 69% to buy.
On Thursday, the sentiment was 71% short and orders were 51% to sell.