Economic Calendar
On Thursday, the US Unemployment Claims could cause an adjustment of the USD value.
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 regards to the near term future, if the rate declines, it could look for support in the February 11 and 14 low level zone above the 115.00 mark. Further below, take into account the weekly S1 simple pivot point.On the other hand, a recovery of the US Dollar against the Japanese Yen might find resistance in the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point in the 115.50/115.65 range. However, not that these technical levels have been mostly ignored. Due to that reason, it is more likely that the pair would find resistance in the 115.80 mark.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate has reached the early 2022 high level and passed the November and January high level at 115.50. The rate needs to pass the 116.00 mark to book new high levels.Daily chart
Read More: Technical Analysis
Traders are short
On Tuesday, on the Swiss Foreign Exchange, traders were short, as 75% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 50% to buy and sell the USD against the JPY.
On Wednesday, the open positions were 74% short and pending orders were 58% to sell.