Economic Calendar
On Friday, take into account the US Markit Services and Manufacturing Purchasing Managers Index release at 13:45 GMT. The rate might be impacted through the USD value reacting to the publication.
Hourly Chart
The next target for the recovery might be the 139.00 level. Above the round exchange rate level note the 2022 high level zone at 139.35/139.38.
However, a possible decline of the US Dollar against the Japanese Yen might look for support in the 138.50 level. Further below, take into account the simple moving averages at 137.90 up to 138.20 and the weekly simple pivot point at 137.90.
USD/JPY daily chart's review
On the daily candle chart, the rate has resumed its 2022 surge, which appears to have been occurring in a wide channel up pattern.Daily chart
On Wednesday, on the Swiss Foreign Exchange, traders were 69% 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 51% to buy the USD against the JPY.
On Thursday, the positions were 68% short and pending orders were 55% to buy.