Economic Calendar
On Wednesday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT and the US ISM Services PMI at 14:00 GMT.
On Thursday, minor action is expected from the US Unemployment Claims.
On Friday, the top event of the week will take place. The United States will publish the monthly employment data at 12:30 GMT. The release will consist of the Average Hourly Earnings, Non-farm Employment Change and the Unemployment Rate.
Hourly Chart
The drop ignored all technical levels. In general, it is suggested to watch for official comments on the sudden currency move.
USD/JPY daily chart's review
On the daily candle chart, the rate passed below the lower trend line of the channel up pattern which captures the recent month surge. However, it appears that the 1998 high level has acted as support.Daily chart
On Tuesday, traders were bearish on USD/JPY, as 74% of open positions on the Swiss Foreign Exchange were short.
In the meantime, trader pending orders in the 100-point range around the current exchange rate were 59% to buy.