Economic Calendar
On Thursday, at 14:00 GMT, the US ISM Manufacturing Purchasing Managers Index could cause a market adjustment.
The top event of the week is scheduled for Friday, at 12:30 GMT. At that time, the US Unemployment Rate, Non-farm Employment Change and the Average Hourly Earnings are set to be published.
Hourly Chart
A move above the 138.86/139.08 zone could result in the pair testing the resistance of the 139.50 and 140.00 levels. Higher above, note the weekly R3 simple pivot point at 140.35.
On the other hand, a decline of the US Dollar against the Japanese Yen below 138.07/138.26 might look for support in the 138.00 mark and the 100-hour simple moving average. Further below, take into account the 200-hour simple moving average and the 137.50 level.
USD/JPY daily chart's review
On the daily candle chart, the pair has reached the July high level zone at 138.60/139.40. Above the high level zone, the 140.00 mark is expected to act as resistance.Meanwhile, the 50-day simple moving average appeared to be acting as support at 135.75. In addition, note the 2002 high level at 135.00 and the approaching 100-day simple moving average near 133.65.
Daily chart
On Wednesdayy, on the Swiss Foreign Exchange, traders were 67% 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.
On Tuesday, traders were 70% short and orders were 52% to sell.