Economic Calendar
On July 7, at 12:30 GMT, the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate will be released by the Bureau of Labor Statistics.
On July 12, watch out for the US Consumer Price Index release. The CPI and Core CPI are the main US indicators for inflation and subsequently impact the US future monetary policy and the US Dollar's value.
On July 13, the US Producer Price Index data will reveal how inflation is doing at the producer level. Usually, increases in producer prices result in an increase of prices at the consumer level, as the wholesalers just charge their buyers more.
On July 18, the US Retail Sales might impact the US Dollar by revealing surprise in how the US consumers are buying goods. In general, the number shows a change in retail sales in percentage. The change can be impacted by a different sales volume or price changes.
Hourly Chart
A decline below 142.70 is expected to find support in round exchange rate levels like 142.50 and 142.00. In general, this rate has been mostly guided by round levels not technical indicators like the simple moving averages and the weekly simple pivot points. Note that the .50 decimal levels have less impact that .00 levels.
In the case of a surge, same rules apply. Round levels are most likely going to impact the rate's movements. Strongest resistance is being provided by the 145.00 mark.
USD/JPY daily chart's review
On the daily candle chart, the pair has passed above the upper border of a broad channel up pattern that has guided the USD/JPY up since the start of the year.Most recently, the rate has reached the resistance zone below 146.00. The zone captures a 2022 resistance and support zone. It acted both ways since September up to mid-November. It was observed at the start of July that the reversal of the pair's direction was caused by the range.
Meanwhile, take into account the approaching 50-day simple moving average near 140.00. This technical level supported the start of the steep surge in early May.
Daily chart
The sentiment index table provides data on the current open position proportion on the Swiss Foreign Exchange. In general, one can mark changes in sentiment and see where the traders are moving into.
One can spot trends, changes in direction and oversold/overbought conditions.