Economic Calendar
This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor move could occur due to the Philadelphia Federal Reserve Manufacturing Index release at 12:30 GMT.
Hourly Chart
On Tuesday morning, the pair faced no resistance as high as the 150.00 mark and the weekly R1 simple pivot point at 149.98. However, the ongoing surge could be slowed down by the 149.50 level.
On the other hand, a decline of the currency rate is expected to look for support in the 149.00 level, the 148.85 level and the approaching 50-hour simple moving average. Further below, note the 148.50 level and the Friday's low at 148.40.
USD/JPY daily chart's review
On the daily candle chart, the rate is above the 1998.00 high level of 147.60.The surge, which has occurred since August has been marked in a channel up pattern.
Meanwhile, the whole 2022 surge has been guided by a large scale channel. The pattern's resistance line has recently kept the rate down.
Daily chart
On Tuesday, on the Swiss Foreign Exchange, traders were 66% short as that amount of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the rate were 77% to sell the USD against the JPY.
On Monday, the positions were already 65% short and pending orders were 58% to sell.