Economic Calendar
This week, the US Advance GDP release at 12:30 on Thursday is bound to impact the value of the US Dollar.
However, the top event of the week will be the US Core PCE Price Index release at 12:30 GMT. The US Federal Reserve looks at this inflation indicator for future guidance of their monetary policy.
Hourly Chart
A decline below 133.40 might be slowed down by the 133.00 level and the weekly S2 simple pivot point at 132.67. Below these levels, take into account the 132.50 and 132.00 levels.
However, a recovery of the US Dollar would result in the pair testing the combined resistance of the 50, 100 and 200-hour simple moving averages at 134.00. Higher above, the weekly simple pivot point could act as resistance at 134.25.
USD/JPY daily chart's review
On the daily candle chart, the pair has moved above the 50 and 100-day simple moving averages. Note the 200-day simple moving average near 137.15, which might act as resistance.Daily chart
On Wednesday, on the Swiss Foreign Exchange, traders were 54% 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 65% to buy the USD against the JPY.
On Tuesday, the positions were 56% short and orders were 55% to buy.