Economic Calendar
This week, the rate could be impacted by the publication of the US ISM Manufacturing PMI and the JOLTS Job Openings on Tuesday at 14:00 GMT.
On Thursday, watch out for the Bank of England's expected rate hike at 5.25%. It is possible that not only the GBP pairs, but other financial instruments could adjust to the continuation of rate increases.
On Friday, at 12:30 GMT, the US employment data will impact the USD and all rates that involve it. The release will consist of the US Average Hourly Earnings change, Non-Farm Employment Change and the official Unemployment Rate.
Hourly Chart
A potential decline below 142.00 could look for support in the 141.55/141.90 range, prior to declining to the combined support of the 50, 100 and 200-hour simple moving averages near 140.60 and the weekly simple pivot point at 140.30.
In the case of the US Dollar surging above the 143.10 level, the rate could be slowed down by the 143.50 level, before reaching the combination of the 144.00 level and the weekly R2 at 144.09.
USD/JPY daily chart's review
On the daily candle chart, the pair found support in the 100-day simple moving average. The technical indicator acted as support two times and appears to have caused the recent recovery of the US Dollar against the Yen.More recently, the rate ignored the resistance and support of the 50-day simple moving average. It appears it is incapable of impact the USD/JPY.
Daily chart
On Monday, traders were bearish on USD/JPY, as 64% of open positions on the Swiss Foreign Exchange were short.
In the meantime, trader pending orders in the 100-point range around the current exchange rate are 62% to buy.
On Thursday, open positions were 73% long and orders were 52% to sell.