Economic Calendar
On Friday, at 12:30 GMT, the US Core PCE Price Index is set to impact the US Dollar.
Hourly Chart
If the surge of the USD/JPY continues, the 145.00 level might act as resistance, before the pair reaches the weekly R2 simple pivot point at 145.57 and the 145.50 level.
In the meantime, a decline of the US Dollar against the Yen is expected to look for support in the 50-hour simple moving average near 144.20 and the 100-hour simple moving average near 143.85. Both of these moving average have been pushing the rate up.
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 2022 up to mid-November.
Daily chart
On Wednesday, on the Swiss Foreign Exchange traders were 61% 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 51% to sell the USD against the JPY.
On Thursday, positions were 60% short and orders were 63% to sell.