Economic Calendar
The day will end with a speech of the US Federal Reserve Chairman Jerome Powell at the Brooking Institution in Washington at 18:30 GMT.
On Thursday, note the Core PCE Price Index release at 13:30 GMT. The US monetary policymakers watch this index as a measure of inflation, not the Consumer Price Index.
Afterwards, the US ISM Manufacturing PMI could impact the US Dollar's value at 15:00 GMT.
The week is set to end with the release of the United States employment data at 13:30 GMT. The data release consists of the US Average Hourly Earnings changes, Non-Farm Employment Change and Unemployment Rate.
Hourly Chart
A surge above 139.50 is set to encounter resistance in the 200-hour simple moving average and the weekly simple pivot point at 139.79, before reaching the 140.00 level. Higher above, note the 140.50 and 141.00 levels and the weekly R1 simple pivot point at 141.53.
Meanwhile, a decline is expected to look for support in the 50 and 100-hour simple moving averages near 138.60 and the 138.50 level. Further below, note the 138.00 and 137.50 levels.
USD/JPY daily chart's review
On the daily candle chart, the pair has returned and shortly reached above the 100-day simple moving average, which is located near 142.00. Higher above, note the 50-day SMA near 145.00. Meanwhile, most close by support on this chart is being provided by the 200-day SMA near 137.00.Most recently, despite being pierced, the 100-day SMA acted as resistance and caused the recent decline. Due to that reason, it could be assumed that the 200-day SMA will act as support.
Daily chart
On Tuesday, on the Swiss Foreign Exchange, traders were 59% 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 sell the USD against the JPY.
On Wednesday, the sentiment was 55% short and orders were 61% to buy.