In the meantime, it was spotted that the pair was shortly being impacted by the support of the technical levels that are spread out from 142.90 up to 143.40.
Economic Calendar
This week, there are two times to look at the economic event calendar.
On Tuesday, at 14:00 GMT, the CB Consumer Confidence index could impact the markets through the US Dollar. Namely, a good reading would indicate that US consumers continue to spend and inflation is set to continue to increase, which would require additional USD monetary tightening.
On Friday, at 12:30 GMT the Core Personal Consumption Expenditure Price Index is bound to make an impact, as the head of the Federal Reserve Jerome Powell revealed last week that he is watching this index as a measure for inflation not the Consumer Price Index.
Hourly Chart
If the rate continue to surge, it might encounter resistance in the 145.00 mark, before the pre-intervention high would be reached. The 145.85/145.90 zone appears to be the one, where the Bank of Japan intervenes.
On the other hand, a decline of the US Dollar against the Japanese Yen would look for support in the 142.90/143.40 zone, the 142.50 and 142.00 levels.
USD/JPY daily chart's review
On the daily candle chart, the pair pierced the 145.00 mark and was heading to 1998 levels. It appears that the 145.00 level is where the central bank draws its line and starts to beat the rate down.Daily chart
On Monday, on the Swiss Foreign Exchange, traders were 61% 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 53% to buy the USD against the JPY.