Economic Calendar
During the upcoming week, on Tuesday, the US Flash Manufacturing and Services PMIs might impact the financial markets through an adjustment of USD value.
On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy.
On Thursday, the US Preliminary GDP and Unemployment Claims releases at 12:30 GMT are highly likely going to impact the USD.
On Friday, at 12:30 GMT, the Core PCE Price Index is bound to impact financial markets through the US Dollar.
Hourly Chart
A move above the 135.00 level and the 200-hour simple moving average could encounter resistance in the 135.30/135.50 range. Higher above note the 136.00 level.
Meanwhile, a potential decline could look for support in the 134.50 level and the 50 and 100-hour simple moving averages. Note that the range at 134.60/134.70 has been ignored. Further below, the 134.00 mark or the 133.75/133.80 zone might stop the decline.
USD/JPY daily chart's review
On the daily candle chart, the pair has retraced to find support in the 50-day simple moving average near 133.50. In addition, note the 100-day SMA near 133.00. Meanwhile, the rate previously passed above the 200-day SMA, which failed to act as resistance.In the case of a resumption of the broader surge, the rate could be stopped by the 138.20/139.40 range.
Daily chart
On Friday, on the Swiss Foreign Exchange, traders were 74% 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 61% to buy the USD against the JPY.