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
An extension of the surge would have to clearly pass the 139.50 level, before approaching the 140.00 mark and the weekly R3 simple at 140.35.
On the other hand, a decline of the pair is highly unlikely due to the support of the weekly R2 at 139.06, the 138.86/139.08 zone and the 50-hour simple moving average. Below these levels, the 138.50 mark, the 100-hour SMA, the weekly R1 at 138.40 and the low level zone at 138.07/138.26 are all expected to act a support.
USD/JPY daily chart's review
On the daily candle chart, the pair has pierced the July high level zone. If the surge extends, the rate could eventually aim for the 1998 high level at 147.60Meanwhile, the 50-day simple moving average appeared to be acting as support near 136.00. In addition, note the 2002 high level at 135.00 and the approaching 100-day simple moving average near 134.00.
Daily chart
On Wednesday, 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 Thursday, traders were 64% short and orders were 55% to buy.