On Friday, the pair had once again reached below 132.50.
Economic Calendar
Next week, the top event of them all is set to take place. On Wednesday, at 18:00 GMT, the US Federal Reserve is set to hike its Federal Funds Rate.
Hourly Chart
In the near term future, the pair might once again look for support in the weekly S2 simple pivot point. Further below, round exchange rate levels could act as support.
A potential surge of the USD against the Japanese Yen could once again face resistance in the form of the 50 and 100-hour simple moving averages near the 133.00 mark.
USD/JPY daily chart's review
On the daily candle chart, the pair has bounced off the resistance of the 200-day simple moving average near 137.70 and has declined to the support of the 50-day simple moving average near 132.45.Daily chart
On Friday, on the Swiss Foreign Exchange, traders were 66% bearish, 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 56% to sell the USD against the JPY.