Economic Calendar
There are no more notable events scheduled for this week. Next week's review is set to be published on Monday.
Hourly Chart
A continuation of the decline of the US Dollar, compared to the Japanese Yen, the currency pair might look for support in the 127.50 level and the weekly R1 simple pivot point at 127.35. Further below, take into account the 127.00 mark and the 200-hour simple moving average.
However, a potential resumption of the pair's surge would most likely once gain test the resistance zone at 127.47/128.68. Higher above, note the high level at 129.35/129.40.
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, note the 2002 high level at 135.00 and the 1998 high at 147.60.Daily chart
On Friday, 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 54% to sell the USD against the JPY.
On Thursday, the positions were 74% short. Pending orders were 56% to sell.