On Thursday, the rate was looking for support near the 125.20 level, where various technical levels were located.
Economic Calendar
Hourly Chart
If the US Dollar starts a recovery against the Japanese Yen, the currency rate would have to pas the resistance of the 125.63/125.76 zone. Higher above, the 126.00 mark, the weekly R2 simple pivot point and the 126.15/126.30 zone are highly likely to stop a surge.
However, a potential decline below the technical levels near 125.20 and the 100-hour simple moving average could look for support in the 125.00 mark. Below 125.00, the 124.50 level and the 200-hour simple moving averages might stop the USD/JPY from plummeting further.
USD/JPY daily chart's review
On the daily candle chart, the pair has reached above the 2015 High level. In regards to historical levels. This is the highest that we have on our charts. Namely, the USD/JPY has not been this high for more than 20 years. Dukascopy Analytics will look up longer term charts and mark the levels in the near term future.Daily chart
On Thursday, on the Swiss Foreign Exchange, traders were short, as 71% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 64% to buy the USD against the JPY.
On Wednesday, the open positions were 72% short and pending orders were balanced 52% to buy.