Economic Calendar
On Friday, the US Consumer Price Index release at 12:30 GMT is set to impact all financial markets through the value of the USD.
Hourly Chart
If the US Dollar continues to surge against the Japanese Yen, resistance is most likely going to be provided by the 131.00/131.40 zone, which captures the April high levels.
Meanwhile, a potential decline of the currency exchange rate might look for support in the trend line, which connects the pair's recent low levels, the 50-hour simple moving average and the 130.00 mark. Further below, the 129.50/129.80 zone is set to act as support.
USD/JPY daily chart's review
On the daily candle chart, despite being pierced, the 50-day simple moving average provided enough support to cause a move upwards.Daily chart
On Friday, on the Swiss Foreign Exchange, traders were 66% 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 58% to sell the USD against the JPY.