However, by mid-Monday, the markets had shrugged off the news and the USD was near previous levels. The initial spike of the USD/JPY managed to pierce the 133.50 level's resistance. However, the pair started a decline and by 12:00 GMT the pair was at 132.50.
Economic Calendar
On Monday, the US ISM Manufacturing PMI release at 14:00 GMT could cause a move in the US Dollar.
On Wednesday, the US ADP Non-Farm Employment change at 12:15 GMT might impact the USD. Afterwards, at 14:00 GMT note the ISM Services PMI release.
Above all, on Friday, at 12:30 GMT, the United States will publish the Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate.
Hourly Chart
A move below 132.50 might be slowed down by the weekly simple pivot point at 132.27, the 132.00 level and the 200-hour simple moving average near 131.78.
On the other hand, a recovery of the US Dollar against the Japanese Yen is expected to face resistance at 133.00 and the 50-hour simple moving average, prior to once again testing the 133.50 mark.
USD/JPY daily chart's review
On the daily candle chart, the pair was being observed to be recovering from the support zone at 130.00/131.40.Take into account the 55 and 100-day simple moving averages, which appears to be acting as a magnet to the rate.
Daily chart
On Friday, on the Swiss Foreign Exchange, traders were 67% bearish, 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 Monday, traders were 65% short and orders were 55% to buy.