At mid-day on Wednesday, the USD/JPY appeared to have found additional support in the 135.00 level. Meanwhile, the 136.00 level did not appears to be capable of acting as notable resistance. In the meantime, the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point at 135.50/135.70 were periodically acting as support and resistance.
Economic Calendar
On Friday, the United States are scheduled to release their monthly employment data at 12:30 GMT. Expect the data release to consist of the Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate.
Hourly Chart
During the first half of Thursday, the rate was trading between the support of the weekly simple pivot point and the 100-hour simple moving average near 135.55. If the pair passes below the 135.50 level, the rate could once again look for support in the 135.00 mark and the 134.75/134.80 zone.
On the other hand, a surge of the US Dollar against the Japanese Yen is expected to encounter resistance in the 136.28/136.38 zone, the 136.50 level and the weekly R1 simple pivot point at 136.64.
USD/JPY daily chart's review
On the daily candle chart, the rate appears to be trading almost sideways, compared to the price action during the rest of 2022.Daily chart
On the Swiss Foreign Exchange, traders were 70% 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 54% to buy the USD against the JPY.
On Wednesday, traders were 70% short and pending orders were 56% to sell.