Economic Calendar
On Thursday, the US Gross Domestic Product release is highly likely going to impact the financial markets via an adjustment of the USD value.
On Friday, at 12:30 GMT, the US Core PCE Price Index is set to impact the US Dollar.
Hourly Chart
An extension of the USD/JPY surge is expected to be slowed down by the combination of the weekly R1 simple pivot point at 144.61 and the 144.50 level. Higher above, note the 145.00 mark.
On the other hand, a decline of the pair is most likely going to look for support in the 50-hour simple moving average and the 144.50 level. Further below, note the 143.00 level, the weekly simple pivot point at 142.91 and the 100-hour simple moving average.
USD/JPY daily chart's review
On the daily candle chart, the pair has passed above the upper border of a broad channel up pattern that has guided the USD/JPY up since the start of the year.Next target is the resistance range below 146.00.
Daily chart
On Monday, 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 69% to buy the USD against the JPY.
On Tuesday, positions were 65% short and orders were 63% to buy.