Economic Calendar
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 weekly R3 pivot point at 140.35 might encounter resistance in the 140.50 and 141.00 levels, before the USD/JPY reaches the upper trend line of the channel up pattern, which has guided the rate since August 10.
On the other hand, a decline of the US Dollar against the Japanese Yen could look for support in the 140.00 mark, the 139.50 level and the 50-hour simple moving average. Further below, note the 139.00 mark, weekly R2 at 139.06, 100-hour SMA and the 139.86/139.08 zone. All of these levels make up a strong support range.
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 Friday, on the Swiss Foreign Exchange, traders were 74% 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 50% to buy and sell the USD against the JPY.
On Thursday, traders were 64% short and orders were 55% to buy.