In addition, the 200-hour simple moving average and the weekly simple pivot point were located at the 115.18 and 115.27 levels.
Economic Calendar
The week's most notable event will close the week. Namely, on Friday, at 13:30 GMT the US Employment data sets are set to be published. The release will consist of three numbers - the Average Hourly Earnings change month-on-month, the Non-Farm Employment Change during the month and the Unemployment Rate in February.
Click on the link below to find out more about data releases of this and other currency exchange rates.
USD/JPY short-term review
If the US Dollar declines against the Japanese Yen below the technical levels in the 115.18/115.40 zone, the rate could look for support in the 115.00 mark. Further below, the weekly S1 simple pivot point at 114.74 might reverse a decline, as it did on Tuesday.However, a resumption of the surge of the USD against the Yen is highly likely going to test the resistance of the 115.70/115.80 resistance zone, before aiming at the 116.00 mark and the weekly R1 simple pivot point at 116.13.
Hourly Chart
USD/JPY daily chart's review
On the daily candle chart, the rate needs to pass the 2022 high level zone at 116.10/116.35.Most recently, it appeared that the currency exchange rate retraced to the support of the 50-day simple moving average near 115.00 and the 100-day moving average near 114.50.
Daily chart
On Thursday, on the Swiss Foreign Exchange, traders were short, as 71% 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 sell the USD against the JPY.
On Wednesday, 74% of open position volume was in short positions. In the meantime, the pending orders were 56% to sell.